Loading...
The S&P 500 has experienced a significant surge in 2024, with a return of almost 15% so far. This performance is driven by cyclical sectors, particularly information technology and consumer discretionary stocks, which have outperformed defensive sectors. Since the market low on March 9, 2009, the S&P 500 has surged 709% as of June 20, 2024, with technology stocks increasing by 2000%, according to Oppenheimer. The market cap-weighted S&P 500 is outperforming the equal weight index by nearly 10% this year, following a 12% outperformance in 2023. This marks the highest combined outperformance since 1998-1999. Additionally, the index has recorded 31 new all-time highs so far in 2024. Historical data suggests that in years with at least 30 new all-time highs by mid-year, the rest of the year sees a median increase of 9.0%. In mid-December 2023, over 60% of S&P 500 components hit a 20-day high, leading to an 18.0% average increase a year later.
S&P 500 with 31 new all-time highs so far in '24. Other years with at least 20 at the midpoint? Rest of yr up a median of 9.6%.
S&P 500 with 31 new all-time highs so far in '24. Other years with at least 30 at the midpoint? Rest of yr up a median of 9.0%.
Mid-December 2023 saw a historic surge in stocks hitting new 20-day highs. >60% of S&P 500 components hit a 20-day high and a yr later stocks had never been lower (higher 15 out of 15) and up 18.0% on avg. Again, clues where there if you looked. https://t.co/2K6kOiTI3H
The market cap-weighted S&P 500 is outperforming the equal weight index by nearly 10% this year, following 12% outperformance in 2023. Since 1971, the only back-to-back years with a higher combined outperformance: 1998-1999. Video: https://t.co/SLh8XIiR3B https://t.co/8b3rzgxU1q
Since the broad market low on March 9 '09, the S&P 500 has surged 709% as of June 20, 2024. Cyclical sectors, led by information technology and consumer discretionary stocks, have outperformed, while all four defensive sectors lagged behind. Tech up +2000% Source: Oppenheimer https://t.co/LGBzFGci0O
Here are the stocks driving the S&P 500’s almost 15% return so far in 2024 https://t.co/vStmHigUkc