Since its lows in early June, the S&P 500 has now rallied more than 7%. Â What makes this rally unique compared to prior rallies is that equities have been rising even as crude oil has done nothing. Â Over the last several years, most advances in equities have been accompanied by rallies in the price of oil as well as other assets. Â In the current rally, however, the gains in equities have far outpaced the gains in other commodities.
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