In one of the strongest signs yet of the long-term effects of the economic recovery, for the first time since 1974, the world’s five largest corporations by market capitalization are both US-based and all in the same sector.
While the last two years have been particularly bullish for tech stocks, the broader-market slowdown combined with continued growth in the internet sector have shifted the focus away from the traditional market titans, energy and heavy industry. This change reflects the shift in the employment market as well, with the smallest share of American labor involved in manufacturing since pre-industrial times. Read more…
