What’s happening: According to new research from Goldman Sachs, just five companies — Microsoft, Apple, Nvidia, Tesla and Google parent Alphabet — have contributed 51% of S&P 500 returns since April.
After shooting up 76% in 2020, Amazon’s stock is up just 6% this year, compared to a nearly 26% rise in the S&P 500.
Netflix’s stock has also lost steam, rising 13% this year after skyrocketing 67% in 2020.
Facebook, now called Meta, has done slightly better, jumping 21% year-to-date.
Chipmaker Nvidia, for its part, has shaken off global supply issues and matched 122% gains last year with a 131% increase in 2021.
Step back: There have been moments over the past 12 months when investors have tried to reduce their exposure to high-growth companies, which don’t look as attractive in a world where interest rates could begin to rise.
Goldman Sachs thinks that as it stands, the risk is low.
The Chinese artificial intelligence startup announced Monday that it would delay its widely anticipated market debut in Hong Kong, where it had planned to raise up to $767 million.
The company said in a stock exchange filing Monday that it would postpone the listing “to safeguard the interests of the potential investors of the company” and allow them to “consider the potential impact of” the US move on any investments.
Breaking it down: Employers realize how hard it is to fill jobs and are willing to hang on to workers they might have let go in the past.