Nasdaq up 0.40%. S&P up 0.41%.
Amazon is up 50,000% since it's introduction 20 years ago today. If you invested $10,000 at that time, it would be worth 4.9 million (according to the WSJ). Ah....another one got away. Darn!
Anyway the Nasdaq and S&P are up smartly today and the contribution from Amazon on it's anniversary? Negative. Yes, Amazon is down -0.43% on the day.
The retail and cloud high flyer is not alone in it's rally non-participation today. Other recent high flyers are also not contributing including Apple (-0.39%), Facebook (-0.20%), Tesla (-2.76%), and Netflix (-0.52%). Microsoft and Intel are trading near unchanged levels. Google is bucking the trend up +0.51%.
So I guess there is a rotation going on with the high flyers not the favorites, but the Nasdaq and the S&P continuing it's march to the upside.
