The Big Picture - Macro Perspective on the Capital Markets, Economy, Technology, and Digital Media

Financials — and, to a lesser extent, industrials — have not only accounted for a hefty share of the S&P 500 Index’s nearly 25% gain so far, but have also more than held their own vis-à-vis their index weighting.

By the same token, while the most heavily-weighted sector, information technology, has played a major role in the rally, it hasn’t pulled much more than its weight, so to speak, in terms of its market capitalization.

Name 3/9/2008 Close 4/15/2008 Last Net Change in Points Net Change in % % of Overall Move in SPX Cumulative % of Overall Move % Weight in Index Share as a % of weighting

S&P 500 Index 676.53 845.07 168.54 24.91%

Financials 83.77 140.52 56.75 67.75% 24.55% 24.55% 12.13% 202.44%
Info Tech 199.62 254.27 54.65 27.38% 19.27% 43.82% 17.91% 107.59%
Industrials 132.83 180.53 47.70 35.91% 13.50% 57.32% 10.20% 132.31%
Cons Discret 125.72 168.20 42.48 33.79% 11.40% 68.71% 9.01% 126.49%
Energy 310.92 352.97 42.05 13.52% 7.64% 76.36% 12.81% 59.68%
Health Care 253.27 281.68 28.41 11.22% 7.25% 83.60% 14.36% 50.48%
Cons Staples 199.80 223.52 23.72 11.87% 6.56% 90.16% 12.35% 53.08%
Materials 108.82 145.29 36.47 33.51% 4.12% 94.28% 3.28% 125.68%
Telecom 88.10 105.09 16.99 19.28% 3.12% 97.40% 3.86% 80.92%
Utilities 113.81 130.34 16.53 14.52% 2.60% 100.00% 4.10% 63.44%