The S&P 500 is up 16.9% in 2024, the 13th best start to a year going back to 1928 and the best start to a presidential election year in history.
$SPX Source: Charlie Bilello
The star of the show this week and it's not even close.
Highest one-week return since January and now green on the year. $TSLA Source: Trend Spider
Imagine two neighbours. A decade ago one invested $10k in Nvidia $NVDA and the other invested $10K in Intel $INTC
One would have $2.9 million today, while the other would have $13,420. It's likely they'd no longer be neighbours... 🤣 Source: Koyfin
As per The Kobeisi Letter >>> The S&P 500 is now up 34% in under 8 MONTHS
Since the October 2023 low, the S&P 500 has added 1,370 points or $11.5 TRILLION in market cap. In other words, the S&P 500 has added ~$1.4 trillion in market cap PER MONTH for the last 8 months in a row. This means that the S&P 500's return since October 2023 is now 3 times the average annual return. Nvidia stock alone, $NVDA, has added $2.2 trillion in market cap over this time period. That's ~20% of the S&P 500's market cap gains coming from just one stock...
The market cap-weighted SP500 is outperforming equal weight index by over 10% this year, following 12% outperformance in 2023
Since 1971, we've never seen consecutive years with >10% outperformance. Source: Charlie Bilello
BREAKING: The S&P 500 has just hit its 23rd all time high this year and is now up 29% since October 2023
This means that the S&P 500 has officially added $10 TRILLION in market cap since its October 2023 low. The index is now up 11.5% in 2024 even as a total of four interest rate cuts have been priced-out since January. We are on track to see the most all time highs in a year since 2021. Over the last 12 years, the S&P 500 has hit 370 all-time highs, which is more than any 12-year period in history. $SPX Source: Charlie Bilello, The Kobeissi Letter
S&P 500 $SPX hits all-time high
Source: Barchart
Copper jumps to highest price since April 2022 👀
Source: Barchart
