Top 1%’rs Own 50% of the Stocks in US

Top 1%’rs Own 50% of the Stocks in US

$DIA, $SPY, $QQQ, $RUTX, $GS

In the US the richest 1%of households own 50% of all the stocks in the United States, a Goldman Sachs (NYSE:GS) executive declared Friday.

Speaking publicly the investment bank’s Chief Economist, Daan Struyven said the number has risen sharply over the past 30 years.

“The wealthiest 0.1% and 1% of households now own about 17% and 50% of total household equities respectively, up significantly from 13% and 39% in the late 80’s,” Mr. Struyven said.

The data was through Y 2016, and it is unclear how much it has changed over the past 2 years, up or down.

The stock market enjoyed a strong Y 2017 and consolidated in Y 2018, with the DJIA finishing the year down 5.6%, the worst year for U.S. stocks since Y 2008.

Friday, the major US stock market indexes finished at: DJIA +336.25 at 24706.35, NAS Comp +72.26 at 7156.74, S&P 500 +34.75 at 2670.67

Volume: Trade on the NYSE came in at 1.0-B/shares exchanged

  • Russell 2000 +9.9% YTD
  • NAS Comp +7.9% YTD
  • S&P 500 +6.5% YTD
  • DJIA +5.9% YTD

HeffX-LTN’s Key technical indicators for the US major stock indexes have turned Bullish to Very Bullish for the week ending 18 January 2019.

Have a terrific Holiday weekend

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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