The market comeback makes sense when looking at the make-up of the S&P 500

A person can be seen riding the Charging Bull in the financial distrcict of New York City amid Coronavirus pandemic on April 5, 2020.
John Nacion | NurPhoto | Getty Images

The stock market's rally from the lows reached in late March has left many investors baffled as joblessness soars during the coronavirus pandemic. But a look under the surface might help explain the market's resilience despite the recent economic hardship.