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Early this year, the term “American Exceptionalism” was widely referred to by the media and was credited for the continued outperformance of the US stock market as compared to the rest of the world.
The US economy continues to remain strong. In September, the US economy added 254,000 jobs – much more than the 150,000 expected.
In the US, much of the year-to-date gains have been concentrated in a handful of companies. Six stocks have accounted for 60% of the gains throughout the first half of the year.
