“The U.S. S&P 500 rose more than 20% for the second year in a row as investor excitement about artificial intelligence fueled big gains in tech giants.”, — write: epravda.com.ua
The U.S. S&P 500 rose more than 20% for the second year in a row as investor excitement about artificial intelligence fueled big gains in tech giants. The Financial Times writes about it. Despite December’s selloff, the basket of blue-chip stocks ended 2024 up 23.3% after a 24.2% gain the previous year, its best two-year performance this century. Over the past six years, the index has already demonstrated an annual increase of more than 20% four times. The leaders of the rally were shares of large technology companies dependent on artificial intelligence. Shares in chipmaker Nvidia are up 172% for the year, while Meta, which also bet on the new technology, is up 65%.Advertisement: S&P 500 contrasts with European markets, with Stoxx 600 up 6% and FTSE 100 up 5 .7%. MSCI’s Asia-Pacific share index rose 7.6%. Shares of the largest technology companies, including the so-called “Magnificent Seven” – Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia and Tesla – once again became a dominant force in the American market.