S&p 500 Hits Record High… And 10/6/26

Record S&P highs mask narrow Mag 7-driven leadership, while nuclear power, custom chips, and diesel costs emerge as distinct investable threads.

• Record close, narrow breadth: S&P 500 closed above 7,800 for the first time, but the equal-weighted index lags the cap-weighted by 5 points since August, with Mag 7 names growing earnings ~30% vs. 12% for the other 493.
• Marvell's Investor Day pop: Stock rose ~6% (up 3x+ YTD) on hyperscaler custom-chip demand guidance; trades at 53x earnings vs. Micron's 6x, with a cited $400B addressable market.

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