The core of the argument in last week’s discussion on Why Markets Don’t Seem to Care If the Economy Stinks surprised a few people.
Which is why I am so delighted to see this chart. It shows exactly what we were discussing — that much of the companies in the S&P500 have almost no impact on its price action.
Source: Visual Capitalist
Why Markets Don’t Seem to Care If the Economy Stink (August 7, 2020)
FAANMG Stock Prices Reflect Global, Not US Recovery (July 17, 2020)