The Movies Are Becoming Just Like The Markets: A Handful Of Blockbusters And Tons Of Losers
Back in July we first revealed something troubling: leadership breadth was collapsing not just across the Nasdaq...
... but the broader market as well:
As the WSJ had calculated, out of a total of 500 stocks, just Amazon, Google, Apple, Facebook, Gilead and Walt Disney accounted for more than all of the $199 billion in market-capitalization gains in the S&P 500. In fact, as of July, just these six firms were responsible for more than half of the $664 billion in value added to the Nasdaq Composite Index as of July.