Empirical properties of stock prices have clear implications in portfolio management. In financial econometrics and empirical asset pricing, a great deal has been discovered about the statistical properties of individual assets at low and high frequencies. Previous research also studied cross-sectional properties of stock returns in relation to macroeconomic, fundamental and statistical factors. Nevertheless, relatively little attention has been paid to macroscopic properties such as the capital distribution curve. To give a metaphor, we know quite a lot about individual stars [stocks] but little about the galaxy [equity market] (e.g., how it spirals). In this talk, we present a careful empirical study of macroscopic properties for the US market. In particular, we consider the capital distribution curve, market diversity and intrinsic market volatility. We not only validate well-known facts but also point out interesting new observations.