The year is now more than halfway over and, so far, it has been a relatively good year for the stock market, with some predicting that the S&P 500 could be on track for its best annual performance since 2019. The S&P 500 experienced a 14% gain in the first half of 2023, while the Dow Jones Industrial Average gained 3.8% and the Nasdaq gained over 30%.
In addition to tech stocks, cruise stocks also performed well in the first half of the year. Here’s a look at the year-to-date returns for the top-performing stocks in the S&P 500:
Due to the wave of bank failures, many stocks for the embattled banks themselves and other financial institutions took a hit during the first half of the year. Energy and healthcare companies also suffered losses. Here’s a look at the year-to-date losses for the worst-performing S&P 500 stocks of 2023 so far:
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the first quarter of 2024 showed a big divergence of returns.
With -10% returns, utilities declined the most as high interest rates weighed on borrowing costs in the capital-intensive sector. Not only that, utilities became less attractive as 10-year Treasury yields were higher than utilities dividend yields in 2023—a first in over a decade.
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