Apple once again led the index with $28.8 billion of buybacks, a quarterly record for the company and the S&P 500 index, according to S&P Dow Jones Indices. The data lags behind by a quarter.

"Magnificent Seven" stocks, like Alphabet (GOOG, GOOGL) and Apple (AAPL) set fresh record highs, but the number of companies gaining dwindles, bringing into question the idea that the market is ...