It is only a few Stocks that are rising sharply. Yesterday, Amazon and Tesla, for example, drove up the Stock Markets as a whole.
Market reports have always said that on days like yesterday the stock markets had rallied strongly. But is that true? Or is it not rather just a few stocks that are rising sharply? Like yesterday Amazon and Tesla did – and thus driving the stock markets as a whole upwards due to their strong and rising weighting in the indices. The broad US market at any rate (i.e. if all stocks were equally weighted) is at the level of December 2018 (at that time there was a heavy sell-off on Wall Street). The leading index, the S&P 500, is much higher than in 2018. We are currently seeing a form of concentration of capital. The money is accumulating with the few winners.