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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