Dear Chart of the Day Fan:
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.
Energy has become about as irrelevant for the S&P 500 Index’s value as any industry has been in decades. The group’s S&P 500 weight fell to a closing low of 1.96% Wednesday, according to data compiled by Bloomberg. The reading was the lowest for oil and gas stocks since at least 1989, when calculations for the S&P 500’s industry sectors begin. Friday’s close was 2.01%, below any sector’s year-end weight. Telephone shares set a record low of 1.74% in June 2018, just before their sector was revamped into communications services.