Below is an updated look at sector weightings for the S&P 500. As shown, Technology is still the largest sector of the S&P at 19.19%. Financials ranks second with a weighting of 16.07%, so Tech and Financials collectively make up roughly 35% of the US stock market.
Health Care is the third largest sector of the S&P at 13.19%, and then there are four sectors right around the 10% mark -- Consumer Discretionary (11.86%), Energy (10.74%), Industrials (10.49%) and Consumer Staples (9.49%). Materials, Utilities and Telecom are at the bottom of the barrel around the 3% mark.
After Wednesday's rally in big blue-chip Tech names, the Tech sector's S&P 500 weighting actually reached its highest level since November 2012. As shown, year-to-date, Tech's weighting has increased 0.60 percentage points. This is the biggest jump of any sector, just ahead of Energy with a gain of 0.50 percentage points.
Five sectors have seen their weightings decrease so far in 2014. Consumer Discretionary has seen the biggest decline in its share of the S&P 500 at 0.69 percentage points. Industrials has fallen the second most, followed by Consumer Staples, Financials and Materials. It's notable that both consumer sectors have lost share this year.