With oil and tech stocks surging, the consumer sector has become increasingly irrelevant:

Consumer Discretionary and Consumer Staples sectors now account for ~13% of the S&P 500’s market cap, their lowest proportion since at least the 1990s. This figure has declined another -5 percentage points since 2022. By comparison, this weight averaged ~22% over the last 35 years and bottomed at ~16% during the 2000 Dot-Com Bubble. This comes as Consumer Discretionary now represents ~9% of the S&P 500’s market cap, its lowest proportion since the 2008 Financial Crisis. At the same time, Consumer Staples accounts for just ~4%, its lowest since at least the 1990s. Consumer stocks have been left in the du

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