S&P 500's Dependence on FANG Stocks Grows as Record Nears: Chart
This article is for subscribers only.
The FANG stocks and their peers largely explain why the S&P 500 Index is flirting with records again. Facebook Inc., Amazon.com Inc., Netflix Inc. and Google’s parent, Alphabet Inc., combined with Microsoft Corp. and Apple Inc. to account for 38 percent of the S&P 500’s gain from a Feb. 8 low to Wednesday, according to data compiled by Bloomberg. These stocks collectively produced 19 percent of the index’s gain in the six months before its latest record, set Jan. 26. Wednesday’s close was 0.5 percent below the January high.