Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Tumblr page.
Thanks for your interest. It’s appreciated.
U.S. stocks are increasingly being dominated by the largest of the large. The Nasdaq-100 Index, where the five most valuable companies have twice the clout they do in the S&P 500 Index, shows as much. For the last three trading days, the Nasdaq-100’s ratio to the S&P 500 closed at records. The first topped a March 2000 peak. What’s more, the indicator widened its lead over a ratio of the indexes’ equal-weight versions. Monday’s gap totaled 76 percentage points since June 2005, when the equal-weight Nasdaq-100 debuted. The original ratio climbed 164% for the period, while the equal-weight version rose 88%.