GO Nasdaq, GO. 昨天不是有說投坦都首選 CS 的？
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Dow trails S&P 500 by most since 2000
Stocks are higher on Wednesday but the Dow Jones is once again lagging the other major averages, a trend that's played out throughout much of 2023.
New research from DataTrek helps us understand why.
The Dow Jones industrial average hasn't fallen this far behind the S&P 500 in a given year since the dot-com bubble, according to new research from DataTrek. The oldest of the three major averages is up just shy of 9%. The benchmark S&P 500 has doubled that, rising almost 19%.
As with most things that have underperformed the S&P 500 during 2023, the key has been exposure to the "Magnificent Seven" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA).
Just two of those companies, Apple and Microsoft, are in the Dow. The index has a less than 20% exposure to the information technology sector. When including Magnificent Seven companies and other traditional tech sector companies, the S&P 500 is 40% technology stocks.
"The S&P’s outsized weighting in tech has enabled it to outperform as they have all the key ingredients to do so: global, scalable businesses that dominate their respective industries," DataTrek's co-founders Nicholas Colas and Jessica Rabe wrote in a new research note on Wednesday night. "They are also enablers of the “next big thing” relative to gen AI. The power of disruptive innovation is a structural trend that is unlikely to reverse course."
