It's no secret that market leadership has become more concentrated over the years, but this is ridiculous.
That one company is Microsoft , the behemoth with the $2.35 trillion market cap and, it seems, a position in the driver's seat on where the market goes next.
In his weekly breakdown of money flows through the financial markets, BofA investment strategist Michael Hartnett said Microsoft needs to reassert itself or face dragging down the rest of the stock market.
MSFT YTD line Microsoft as market leader That's why it holds such a pivotal position in determining how things go from here.
Harnett noted that the equity put/call ratio has hit its highest point since the collapse of Silicon Valley Bank in March, "a bad sign if stocks can't hold hold here."
Persons:
Michael Hartnett, Hartnett, That's, Yul Brynner, Brynner, Chris Adams, gunfighters, Harnett, swoon
Organizations:
Bank of America, Microsoft, Dow Jones, Silicon Valley Bank
Locations:
Thursday's, Silicon