Tuesday, September 22, 2020

Finance, energy trail S&P 500 tech weight more than 2000

Financial and energy stocks, once dominant within the S&P 500 Index, are taking even more of a back seat to technology shares than they did as a bull market ended 20 years ago. The two industry groups together have trailed the weight of the S&P 500 Technology Index by as much as 17 percentage points this month, according to data compiled by Bloomberg. That’s less than a point away from a low in March 2000 -- a figure that isn’t adjusted for a September 2018 index shift, which lifted the ratio by 5.1 points in just one day. Bespoke Investment Group LLC highlighted the comparison in a blog post Monday.

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