FAST FIVE: The Endless Melt Up: Gold And Silver Soar, Global Stocks Turn Green For 2020; Apple $2 Trillion Any Second
with AAPL – whose market cap alone is now 7% of the entire S&P500 – is more than 100% higher from its March 23, lows, adding a third of a trillion dollars in market cap in the past week alone, and now just fractions away from a $2 trillion market cap.
As Bloomberg notes, the pause in the leadership of the mega-cap technology stocks is over, as evidenced by their dominance today.
Nearly all of the S&P 500's 18-point gain can be explained by five stocks: Apple, Facebook, Microsoft, Amazon and Alphabet.
Among the group on pace for all-time closing highs: Apple, Amazon and Facebook.
Overall, it was an extremely boring day, in which the VIX dropped to a new post crisis low, which is precisely what one would expect from centrally-planned markets.