Wednesday, September 1, 2021

Dot-com era weight loss returns in U.S. consumer staples

Food, beverage, tobacco and household-product makers are almost as far out of favor in the U.S. as they were when the dot-com era ended. Their weight in the S&P 500 Index shows as much. Consumer staples amounted to 5.74% of the U.S. equity benchmark in the last three trading days of August, according to data compiled by Bloomberg. The only lower readings in the industry gauge’s three-decade history occurred in March 2000, when its share of the S&P 500 fell as low as 5.35%. “The group offers zero advantage,” Strategas Research Partners LLC wrote in a Twitter post Tuesday with a similar chart.

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