“This Great Graphic was on Barry Ritholtz’s Big Picture blog. It originally was from Morgan Stanley’s Adam Parker. It notes that nearly 90% of this year’s earnings growth of the S&P 500 companies can be traced to 2% or 10 companies.
There seems to be two industries represented and Big Oil is not one of them. It is finance with 6 of the top 10, but if you allow the inclusion of GE (due to GE Finance), finance accounts for 70%. Technology is the other industry, led by Apple, IBM and Western Digital….”