The S&P 500 delivered an impressive performance in 2024, surging over 20%. Unlike the concentrated gains of 2023, driven by a select few stocks, the 2024 rally showcased a broader participation across various sectors. This broad-based growth signifies a more robust and potentially sustainable market advance.
Several sectors outperformed the benchmark S&P 500 index. Communication Services, Information Technology, Consumer Discretionary, and Financial sectors all posted gains exceeding the index’s overall growth. Notably, even the traditionally defensive Utilities sector saw an impressive surge, nearing a 20% increase. This widespread performance underscores the strength of the market rally in 2024.
Argus’s internal analysis further highlights the market’s positive momentum. The average stock under Argus coverage with a BUY rating experienced a substantial 19% increase in value. While HOLD-rated stocks exhibited more modest gains, averaging 0.5%, the overall trend reflects a predominantly positive market environment. This data reinforces the strong performance observed across the S&P 500 and various sectors.
The 2024 performance of the S&P 500 suggests a healthy and diversified market environment. The broad participation across sectors and the strong returns of BUY-rated stocks indicate a positive outlook for investors. The strong performance across sectors, coupled with positive returns on BUY-rated stocks, paints a promising picture for the market’s continued growth.
