The stock market values of a few technology companies are increasing at the expense of legacy businesses. Amazon’s share price promptly soared, pushing its stock market value up by $20 billion to $825.6 billion on the day.
This seemingly zero-sum outcome underscores how disruptive technology companies are taking market capitalization away from legacy businesses and adding it to their own.
These six stocks alone pushed the S&P 500 up 2.66 percent. The other 494 stocks were collectively down 0.40 percent.
How big are these 12 stocks?
They have a combined market cap of more than $5 trillion and are approaching the size of the Japanese stock market, the third-largest in the world behind the U.S. and Chinese markets. The six FAANMG stocks are just under $4 trillion in value, more than the U.K. stock market, which is the fifth-largest in the world.
It’s unusual for a handful of stocks to get this big and have this much influence on the major averages.
In that light, it would not have been unusual for the top five stocks to account for a large portion of the move in the overall index.
The Disruptors account for a record industry concentration of 15.4 percent of the S&P 500.
In more than 50 years of data, we have not seen this kind of zero-sum trading pattern in markets.
Read entire article on: www.zerohedge.com/ne...p-race-zero-sum-game
This seemingly zero-sum outcome underscores how disruptive technology companies are taking market capitalization away from legacy businesses and adding it to their own.
These six stocks alone pushed the S&P 500 up 2.66 percent. The other 494 stocks were collectively down 0.40 percent.
How big are these 12 stocks?
They have a combined market cap of more than $5 trillion and are approaching the size of the Japanese stock market, the third-largest in the world behind the U.S. and Chinese markets. The six FAANMG stocks are just under $4 trillion in value, more than the U.K. stock market, which is the fifth-largest in the world.
It’s unusual for a handful of stocks to get this big and have this much influence on the major averages.
In that light, it would not have been unusual for the top five stocks to account for a large portion of the move in the overall index.
The Disruptors account for a record industry concentration of 15.4 percent of the S&P 500.
In more than 50 years of data, we have not seen this kind of zero-sum trading pattern in markets.
Read entire article on: www.zerohedge.com/ne...p-race-zero-sum-game
2660 till 2904 is an interesting zone if we get above it we are bullish again for a complete new cycle under it means bad news.