{"id":53846,"date":"2020-06-24T06:46:58","date_gmt":"2020-06-24T11:46:58","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53846"},"modified":"2020-06-24T06:47:03","modified_gmt":"2020-06-24T11:47:03","slug":"wild-ride-to-nowhere-since-jan-2018-what-the-us-stock-market-looks-like-minus-appl-msft-amzn-goog-fb","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53846","title":{"rendered":"Wild Ride to Nowhere Since Jan 2018: What the US Stock Market Looks Like Minus APPL, MSFT, AMZN, GOOG, FB"},"content":{"rendered":"\n

Wild Ride to Nowhere Since Jan 2018: What the US Stock Market Looks Like Minus APPL, MSFT, AMZN, GOOG, FB<\/a><\/h3>\n\n\n\n

Entire market of 3,451 stocks minus \u201cGiant 5\u201d is down 1% from Jan 2018. But wow, the volatility! You would have been better off with a despicable freaking savings account.<\/strong><\/p>\n\n\n\n

The market capitalization of the five largest stocks combined \u2013 the \u201cGiant 5:\u201d Apple, Microsoft, Amazon, Alphabet, and Facebook \u2013 rose to a new record today of $6.18 trillion. Since their combined low point on March 16, their market capitalization has soared by 51%. That\u2019s an increase of $2.1 trillion in a little over three months. Since January 2017, my Giant 5 index has soared by 164% (market cap data via YCharts<\/a>):<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

So how big did they get?<\/strong><\/p>\n\n\n\n

The overall stock market capitalization, as measured by the Wilshire 5000 Market Cap Index tracking 3,451 US-listed companies, ticked up to $31.8 trillion, up by 41.6% from its low on March 23.<\/p>\n\n\n\n

Today, the \u201cGiant 5\u201d accounted for 19.4% of the total US stock market capitalization, as measured by the Wilshire 5000, a new record. On January 3, 2017, the Giant 5 had accounted for 10% of the Wilshire 5000. In the three months since the crash in March, the share of the Giant 5 has soared from abound 16% to 19.4% today (Wilshire 5000 data via YCharts<\/a>):<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

But wait\u2026 Performance of Wilshire 5000 without \u201cGiant 5.\u201d<\/strong><\/p>\n\n\n\n

Let\u2019s take the five largest stocks out of the largest stock market in the world, with 3,451 companies, and see what\u2019s left over. What\u2019s left over is now valued at $25.7 trillion. It\u2019s up by 28.4% from the March 23 low, and while that\u2019s till strong for a three-month rally, it\u2019s a far cry from the 51% for the Giant 5.<\/p>\n\n\n\n

And here is the thing: All these companies combined, minus the \u201cGiant 5,\u201d are way below their peak in February 2020, and below a whole bunch of other dates before then, and below where they\u2019d first been in at the end of January 2018.<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Wild Ride to Nowhere Since Jan 2018: What the US Stock Market Looks Like Minus APPL, MSFT, AMZN, GOOG, FB Entire market of 3,451 stocks minus \u201cGiant 5\u201d is down 1% from Jan 2018. But wow, the volatility! You would have been better off with a despicable freaking savings account. The market capitalization of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1849,6100,4254,4255],"class_list":["post-53846","post","type-post","status-publish","format-standard","hentry","category-economics","tag-financial-markets","tag-microsoft","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53846"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53846\/revisions"}],"predecessor-version":[{"id":53848,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53846\/revisions\/53848"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}