James E. Thorne says Wall Street’s habit of treating all corporate CapEx as wasteful is misguided, arguing the view risks stifling innovation and corporate evol

James E. Thorne says Wall Street’s habit of treating all corporate CapEx as wasteful is misguided, arguing the view risks stifling innovation and corporate evolution. He also points to equal-weight S&P 500 outperformance as a sign of improving market breadth.