Macro Nugget: Earnings and market cap going hand in hand
Fiscal expansion, QE and ZIRP the mother of all stimuli for US large cap?
![Free Macro Nugget](https://stenoresearch.com/wp-content/uploads/2024/04/Free-Macro-Nugget.png)
Yesterday we honed in on the market concentration of SPX and how fewer and fewer companies are carrying the index. Thoughts naturally turn to the dot-com bubble which had similar concentration, but this time around a key difference is that large caps are seeing their earnings inflate along with their market capitalization as opposed to the early 2000s.
0 Comments