Almost half of all US households’ financial assets are tied to public stocks, a near-record high, according to recent Federal Reserve data.
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UK stocks have been outperforming US stocks on a broad index-based level for the past seven weeks, but this isn’t a case of a UK renaissance.
Shares are at a 15-month low amid a pile-up of bad news, as analysts call for a course correction, and production woes continue to mount.
Persistent optimism about an economic soft landing has buoyed investors’ hopes about companies of all sizes.
The market appeared yawn-inducing at the broad index level, but there was a flurry of activity under the hood.
The top 10 stocks have reached a weight not seen since the 1970s, with their market cap accounting for about one-third of the entire index.
The 50 companies with the biggest pandemic-era gains have collectively lost $1.5 trillion in market value since the close of 2020.