Friday, April 24, 2020

Industrial sector stocks shrinking within S&P 500

Industrial companies don’t mean all that much to the S&P 500 Index these days. They accounted for just 7.8% of the S&P 500’s value as of Thursday, according to data compiled by Bloomberg. That’s a percentage point less than their low in June 2000. The group’s weight has been below the earlier reading since March 5. “The sector is shrinking and diversifying by the day,” Strategas Research Partners LLC wrote Thursday in a Twitter post that tracked the group’s most heavily weighted company. Boeing Co., Honeywell International Inc. and Union Pacific Co. have shared the top rank since the start of March.

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