The S&P 500 closed at a record high of 7,365.12 on May 6, fueled by cooling oil prices and a surge in AI earnings, before extending its winning streak to seven consecutive weeks.
While investors celebrate the milestone, the mechanics behind the index are drawing scrutiny. On Acquired, Ben Gilbert pushed back against the "passive" label often attached to the fund. He noted, "It's not like an algorithm determines what is in the S&P 500. It's a committee of humans."
The distinction matters as the market eyes Nvidia's upcoming quarterly results. With the S&P 500 hovering near 7,403 in recent intraday trading, the market is betting heavily that human-selected components will continue to outperform, regardless of the index's automated reputation.
