The Case of the Two Stocks

Case file: two chip makers, Micron and Nvidia, are expected to supply 36% of the S&P 500's third-quarter earnings growth, by Citadel's count. Wren: out of five hundred? Hale: 74% are still expected to grow. The Bubble: five hundred stocks, two do the lifting, it only ever goes up! Wren: the index rose 2% last quarter, the average stock fell 2%. Nightjar: the index is not the average stock. Wren: two stocks in a trench coat.

By Citadel Securities' count, Micron and Nvidia alone are expected to supply 36% of the S&P 500's third-quarter earnings growth, in a quarter where the index's earnings are forecast to rise 27% and 74% of its companies to grow; the same firm noted the index rose 2% last quarter while the equal-weighted average stock fell 2%, and said the S&P 500 is no longer the average stock.

Starring

Inspector HaleWrenThe BubbleNightjar