Wednesday, February 12, 2020

Apple, Microsoft pack S&P 500's biggest punch in decades

Apple Inc. and Microsoft Corp. have more power to set the S&P 500 Index’s course than any two companies have had in decades. Their combined weight closed at more than 10% on Monday for the first time ever, according to data compiled by Bloomberg. The total exceeded a December 1999 peak of 9.4% for Microsoft and General Electric Co., which had the most weight back then. The S&P 500’s top-two weights since the mid-1980s were cited in a Twitter post Monday by Carter Worth, head of technical analysis at Cornerstone Macro LLC.

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