“Who is bullying the U.S. stock market? It’s popular to say that Goldman Sachs, J.P. Morgan Chase, the PPT (Plunge Protection Team) or the Federal Reserve, because all engage in shenanigans we’ll never fully know,” Simon Maierhofer writes for MarketWatch. “But they don’t bully the stock market. Apple does.”
“Apple Inc. is one of three stocks racing to become the first trillion-dollar company,” Maierhofer writes. “Apple is the only stock to be included in all three of the following: the Nasdaq 100 Index, the S&P 500 Index, and the Dow Jones Industrial Average.”
“In fact, Apple is more than just included — it rules the roost,” Maierhofer writes. “It is the biggest component of the Nasdaq 100 (11.6%), the S&P 500 (3.6%) and the Dow Jones Industrial Average (4.6%).”
Read more in the full article here.
MacDailyNews Take: Too big to fail.