Stripe Economics Finds K-Shape On Wall Street.

In Stripe’s inaugural Stripe Economics post, company and macro data show a pronounced K-shaped trend on Wall Street but not yet on Main Street. The most profitable third of US public companies now represent ~2/3 of market cap (all-time high). Top 1% own ~40% of equities and gained ~2pp since 2022. However, Stripe data show lower-income household spending growing faster recently, and real wages rose across percentiles—helped by post‑pandemic labor market tightness, which may cool.