One big reason why US stock-market exceptionalism is here to stay

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• US exceptionalism will persist despite international stocks outperforming the S&P 500 this year, Goldman Sachs said.
• Goldman Sachs notes US firms' higher research and development investment boosts growth in the long term.
• US companies lead in return on investment, which helps drive long-term innovation.

The US exceptionalism trade looks likely to persist, despite fears that America's stock market dominance is waning as international...