Persistent pockets

Hi, today we're exploring: (1) Dominance of just 6 stocks, (2) Big tech just keeps getting bigger, (3) Where inflation just won't go away Hello! Happy Friday to all of our readers… especially any Wells Fargo employees who are still tempted to take their foot off the gas a little heading into the weekend — the firm recently fired over a dozen employees for “[faking keyboard activity](. Today we’re exploring: - Tech & the rest: Just 6 stocks dominate the S&P 500 and they keep getting bigger. - Persistent pockets: Areas where inflation just keeps rising. Have feedback for us? Just hit reply — we'd love to hear from you! TOGETHER WITH Huge tech For much of this year, headlines (including our own) have been devoted to the rise of Nvidia, and rightly so: its valuation is [mind-boggling]( and it has almost single-handedly [driven 2024’s “AI theme”](. But, the rest of big tech has also been rising. Indeed, even Apple is [now enjoying]( the “announce an AI product and watch your stock price go up” phenomenon, with its shares up some 14% in the last month. So, how much has big tech gained in 2024. As of Wednesday’s close, just 6 stocks have added an eye-watering $3.8 trillion in market capitalization this year. The rest of the S&P 500, the flagship index of America’s biggest public companies, have collectively added just $1.78 trillion. Nvidia alone has gained more than that ($1.86T). Bigger hitters This is pretty remarkable. Just a few years ago, we would often make charts when certain companies crossed the $1T or $2T mark — milestones that once seemed unfathomable, but are now commonplace —as big tech increasingly dominates the largest stock market indices in America. Amazon is worth nearly 4 Walmarts. Microsoft is worth 59 General Motors. Nvidia is worth 16 McDonald’s. These comparisons are mostly meaningless, but there’s very few companies big enough to make worthwhile observations. In fact, you have to start zooming out to find economic entities of an equivalent size: just 3 of those big tech stocks — Nvidia, Microsoft, and Apple — are [bigger than the entire Chinese stock market](. The whole thing. [Read this on the web instead]( [Sponsored by Timeline]( Get time on your side Feeling run down? The reason might be cell-deep. The body’s energy centers are tied to an innate cellular recycling process called mitophagy. As we age, mitochondrial dysfunction means this becomes less efficient… which leads to a decrease in energy production and muscle function as time goes by. The good news: [Mitopure]( Timeline]( helps you push back against the cell-by date. By stimulating the cellular recycling process, [Mitopure renews your energy centers]( for clinically proven results: double-digit increases in muscle strength and endurance without any change in exercise levels. It’s no secret, just science. Mitopure is a clinically-backed solution to promote healthy aging — and [Chartr readers get 30% off with code CHARTRENERGY](. [Try Mitopure from Timeline with 30% off]( Inflation, but make it slower The latest Consumer Price Index (CPI), a weighted basket of various goods and services, was unchanged month-over-month in May and rose 3.3% on a [yearly basis]( down from the 3.6% reported in April and the softest reading since July 2022. Let's reiterate: just because the headline reads "Price rises are slowing" doesn't mean prices are falling, rather, they are just increasing at a slower pace. With the average grocery or electricity bill still higher than a year ago, it’s very hard for Americans to enjoy the fruits of what the data suggests is actually a pretty strong economy. It seems, [beyond a certain point]( that inflation is kind of the only thing that matters. So, where is inflation still hitting hardest? Because of the wide array of products and services in the CPI basket, no single item has risen by exactly 3.3% over the past year… SO, we decided it was again time to ask one of our favorite questions when the report comes out: exactly where are prices rising? Bad news: Americans have seen what’s likely their biggest monthly expense, shelter, rise 5.4% from last May — a particularly sore point in an area where even a decimal point change can weigh heavily on one's finances. Sports fans and road users will be feeling the pinch too, as attending sporting events and insuring your vehicle are both up ~20-22%. Slightly less bad news: Prices at the gas pump have dropped from April, but are still up 2.2% year-over-year. Food at home has remained relatively flat in recent months (up 1% over the year). However, for the [growing share]( who are eating out more often, the 4% increase of restaurant bills or fast-food orders means dining out will be taking a bigger bite out of their finances. Good news: Flying across the country (-5.9%) and renting a car upon arrival (-8.8%) have both continued to drop in price, which is great for anyone with big summer trip plans. Entertaining your children and teens, whether with a toy (-7.8%) or a new TV (-6.6%), is also cheaper than it was last year. [Read this on the web instead]( More Data • Sony just became the first big studio to buy a theater chain since the 1940s, after acquiring [Alamo Drafthouse Cinema](. • Callaway spent 3 years and $100M to perfect the world’s greatest [golf ball](. • Taken daily, Mitopure® by Timeline fights against aging on the most fundamental level: your cells. Clinical studies have shown that Mitopure increases endurance and muscle strength, and you can get [30% off your first month’s supply with code CHARTRENERGY]( • How a private equity-backed British company is [taking over]( Broadway. • Netflix agreed a huge deal to show Christmas Day NFL games for the next 3 years... Now it's looking to other broadcasters to help [pull it off](. *This is sponsored content. Hi-Viz • A statistical [deep dive]( into the state of cable TV in 2024, with a couple of charts you may recognize in there too. • The 5 states where Americans are driving [the most](. Off the charts: The online version of which centuries-old pastime took off after the pandemic, supercharged by a few key pieces of media and controversy? [Answer below.] [Answer here](. Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...) or want to [sponsor]( newsletter](mailto:james@sherwoodmedia.com?subject=Chartr%20NL%20Sponsorship%20Enquiry%20)? Not a subscriber? Sign up for free below. [Subscribe]( Copyright © 2024 CHARTR LIMITED, All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: CHARTR LIMITED 231 Vauxhall Bridge RoadLondon, SW1V 1AD United Kingdom [Add us to your address book]( Don't want charts in your inbox anymore? Break our hearts and [unsubscribe](. [Privacy Policy](