What’s the basis is for claiming that only finance and tech are profitable sectors in the US economy. Energy? Healthcare? Manufacturing?

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nostrademons 2 days ago | parent [-]

Here's the list of S&P 500 companies by market cap & weighting:

https://www.slickcharts.com/sp500

Going down that list, the first 9 are all tech (the "Mag 7" plus Broadcom). The first non-tech is Berkshire Hathaway at #10, but that is financial services. The top 10 together are 38.63% of the index. Then you have Walmart at #11 and 1.57% of the index, then 2 financials (JP Morgan Chase and Visa) and a pharmaceutical (Eli Lilly). The rest of the top 30 includes 6 more tech companies (Micron, Oracle, AMD, Netflix, Palantir, and Intel) and 2 more financials (Mastercard and Bank of America).

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senordevnyc 2 days ago | parent [-]

Your claim wasn’t that many of the biggest US companies by market cap are in finance and tech, but rather than nothing else is profitable. Do you see the difference?

	▲	nostrademons 2 days ago \| parent \| next [-]
		Here's the list by earnings: https://www.tradingview.com/markets/stocks-usa/market-movers... It is even more dominated by finance and tech: the list is Alphabet, NVidia, Apple, Microsoft, Amazon, Berkshire, Meta, JP Morgan Chase, Bank of America, and then the first non finance/tech comes in at #10 with Exxon. Exxon's earnings are less than 1/4 of Alphabet's. The reason to prefer market cap over earnings is that market cap includes investors' view of the company's future earnings power, but they both tell the same story.
	▲	fatata123 2 days ago \| parent \| prev [-]
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