EQUAL-WEIGHT STOCKS CRUSH CAP-WEIGHTED S&P IN OCTOBER

Nvidia and Meta dragged the market-cap-weighted S&P 500 down roughly 0.9% in October, as both stocks sold off on AI-spending concerns. Strip out the mega-caps, though, and October looked completely different: the Invesco S&P 500 Equal Weight ETF, $RSP, gained close to 4.9% over the same month, according to Yahoo Finance closing prices. That is nearly a 6-percentage-point gap between the two versions of the same index in a single month, a sign that the rally is no longer just about a handful of AI giants.