Beginnings January gave a gentle push to the popular indices. Despite today’s selloff, at the close the S&P 500 and the Nasdaq-100 are up +1.60% and +1.82% respectively to begin the year.
Of course, to get a more complete picture, it’s helpful to look at some other data – for example, the S&P 500 equal weight index. It’s actually down -0.87% for the year.
That signals to me the “Magnificent Seven” [Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla] continues to throw its weight around disproportionally, accounting for the vast majority of the strength in the market.
In addition to marking the start of the year, January saw a few additional beginnings worth noting:
Of course, to get a more complete picture, it’s helpful to look at some other data – for example, the S&P 500 equal weight index. It’s actually down -0.87% for the year.
That signals to me the “Magnificent Seven” [Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla] continues to throw its weight around disproportionally, accounting for the vast majority of the strength in the market.
In addition to marking the start of the year, January saw a few additional beginnings worth noting:
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