August 11, 2025 Market Moment

Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®

8/11/2025

The Technology sector now makes up 34.45% of the S&P 500—near Dot Com Bubble highs—and is over 20 points larger than the next biggest sector, Financials, at 13.53%. 1
This is not the first time the U.S. stock market has been overconcentrated in one sector or industry. For example, in 1881, railroads made up 63% of the U.S. stock market, which is the highest concentration ever recorded. 2
Electricity prices rose in 43 of 50 states this summer, mainly driven by energy-hungry data centers fueling AI growth. The biggest jumps were in Maine (+37.3%), Utah (+13.7%), and New York (+11.8%). 3
In June 2025, there were 508,715 more home sellers than buyers. This is the largest seller-buyer gap in over a decade. 4

Bespoke - "Tech's Weight Loss in the S&P 493"
The Irrelevant Investor - "Animal Spirits: Wall Street Strikes Back"
MFS - "Beyond the News"
Redfin - "Estimated Number of U.S. Homebuyers and Sellers Actively in the Housing Market"

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only

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