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The S&P 500 (SP500) on Friday superior +14.48% for the primary half of 2024 and +4.14% in Q2, whereas its accompanying SPDR S&P 500 ETF Belief (NYSEARCA:SPY) moved +4.22% within the quarter and +14.5% for H1.
The benchmark index has been just lately pushed largely by a rally in a handful of expertise shares, due to the fashion round synthetic intelligence (AI). On a macro stage, the S&P 500 has been buoyed partly by progress in the direction of a situation the place the Federal Reserve can lastly start to unwind the financial coverage tightening marketing campaign unleashed to fight the fallout from the COVID-19 pandemic.
All 11 sectors throughout the index notched beneficial properties besides Actual Property. Listed below are the highest gainers this quarter:
- Nvidia (NVDA) +36.7%
- First Photo voltaic (FSLR) +33.6%
- Teradyne (TER) +31.4%
- GE Vernova (GEV) +25.4%
- Vistra (VST) +23.4%
- Apple (AAPL) +22.8%
- Netapp (NTAP) +22.7%
- Monolithic Energy Programs (MPWR) +21.3%
- Broadcom (AVGO) +21.1%
- Alphabet (GOOG) (GOOGL) +20.5%
Round 60% of S&P 500 (SP500) constituents have been additionally in purple within the current quarter, with among the greatest losers together with the next:
- Walgreens Boots Alliance (WBA) -44.2%
- Builders Firstsource (BLDR) -33.6%
- EPAM Programs (EPAM) -31.9%
- Estee Lauder Cos (EL) -30.9%
- Intel (INTC) -29.9%
- Globe Life (GL) -29.3%
- Paycom Software program (PAYC) -28.1%
- Albemarle (ALB) -27.5%
- American Airways (AAL) -26.1%
- CVS Well being (CVS) -25.9%
Over the subsequent six months, the S&P 500 (SP500) will probably sway to the Presidential election and rate of interest choices of the Federal Reserve. A number of analysts see a correction up forward, citing an overvalued market that has largely moved on the excitement round AI and some tech megacap names.
