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Stocks In The US Saw A Record High
Stocks in the US saw a record high this week. The increase showed that the losses experienced during the corona virus outbreak were compensated.
Yazar: Tom Roberts
Yayınlanma: 22 Ağustos 2020 22:46
Güncellenme: 23 Kasım 2024 17:47
Stocks In The US Saw A Record High
Stocks in the US saw a record high this week. The increase showed that the losses experienced during the corona virus outbreak were compensated. However, the Financial Times pointed out that despite the broken record, there is nothing to celebrate for most companies in the S&P 500 index. In the US, the stock market's exit this year was supported by the country's largest companies such as Apple and Amazon. Tech giants saw the summit, with companies like Calgote-Palmolive and Domino's benefiting from the outbreak. However, most companies in the index have experienced a serious decrease.AVERAGE SHARE IS 28.4 PERCENT BELOW THE TOP
About one-fifth of the S&P 500 companies were more than 50 percent below their all-time high as of Friday. The average stock in the index is 28.4 percent below the peak, according to research group Cornerstone Macro. This research shows that the spectacular rally in the S&P 500 and technology-heavy Nasdaq exchanges actually masks the troubles faced by businesses across the country.
“This is really about a handful of stocks — not at all representing what is going on underneath the surface,” said Cornerstone analyst Michael Kantrowitz. The big difference between winners and losers has led investors to describe the recovery in the stock market as 'K-shaped'. This describes the huge gap in wealth sharing.
“The K-shaped recovery demarcates between the haves and have-nots – the portions of the economy that do well with the Covid backdrop,” said Michael Mullaney, global research head at Boston Partners.
AMAZON DOMINATES THE CONSUMER-ORIENTED INDUSTRY
The rise in some industries outperformed the S&P 500. Technology shares sector increased 27 percent. The increase in the retail sector was 23 percent. However, the increase in this area is actually seen as the work of one company: Amazon! The retail giant's shares rose 78 percent this year.
Amazon alone accounts for 43 percent of the consumer-oriented industry. Amazon's rise made up for it, although more than half of the companies in the industry experienced a decline. These include cruiser operator Carnival, which lost more than 40 percent in value, and clothing brand Ralph Lauren.
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