The Magnificent Seven skew the market
Author: Madison Mills, Dan Primack
US technology shares wobbled over the spring, say Madison Mills and Dan Primack on Axios. Now they are booming again. The sector has accounted for nearly half of all the S&P 500 index’s earnings growth this year. Big Tech’s comeback has sent market concentration back to dangerously "extreme" levels, says Torsten Slok of Apollo. The ten largest firms – including Nvidia, Apple and Amazon – now account for nearly 40% of market value and more than a quarter of earnings for America’s top 500 stocks. ...