The stock market’s comeback from the Iran-inspired selloff hasn’t been as powerful as you might think

the s&p 500 hit a new record, recovering from the iran-inspired selloff. but the equal-weighted version of the index hasn't joined the party — it's still sitting below its old high. that gap matters. the regular s&p 500 is driven by its biggest names, which have done most of the heavy lifting. the equal-weighted index gives every stock the same say, so its lag tells you the rally isn't broad. most stocks haven't gotten back to where they were before the selloff, even as the headline index prints new highs.