S&P 500 Ends First Half Shy Of All-Time Highs. Here Are The Leaders And Laggards — And 5 Stocks That Could Outperform In Next 6 Months
Portfolio Pulse from Shanthi Rexaline
The S&P 500 Index has gained 14.48% this year, driven by expectations of Federal Reserve rate cuts, strong corporate earnings, and optimism over AI technology. The SPDR S&P 500 ETF Trust (SPY) ended the latest session down 0.39%. Analysts are optimistic about further gains, with Evercore ISI predicting the index will end the year at 6,000. The top performers include Super Micro Computer (SMCI), Nvidia (NVDA), and Vistra (VST), while laggards include Walgreens Boots Alliance (WBA) and Lululemon Athletica (LULU). Analysts expect underperformers to rebound if the Fed cuts rates in September.
June 30, 2024 | 10:02 pm
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POSITIVE IMPACT
Nvidia Corp. (NVDA) has gained 149.5% this year, driven by optimism over AI technology.
NVDA's strong performance is largely due to the market's optimism about AI technology, suggesting continued positive momentum.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
Super Micro Computer Inc. (SMCI) has surged 188.2% this year, making it one of the top performers in the S&P 500.
SMCI's significant year-to-date performance indicates strong investor confidence and potential for continued growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) ended the latest session down 0.39% at $544.22. Analysts are optimistic about further gains in the second half of the year, with Evercore ISI predicting the index will end the year at 6,000.
The SPY ETF tracks the S&P 500 Index, which has shown strong performance this year. Analysts' optimistic outlook and high year-end targets suggest potential for further gains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Vistra Corp. (VST) has increased by 123.2% this year, making it one of the top gainers in the S&P 500.
VST's strong year-to-date performance indicates robust investor interest and potential for continued growth.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Lululemon Athletica Inc. (LULU) has declined 41.6% this year, making it one of the laggards in the S&P 500.
LULU's significant decline indicates challenges in its business, making it a laggard in the S&P 500.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Walgreens Boots Alliance, Inc. (WBA) is one of the laggards, down 53.7% this year.
WBA's significant decline indicates challenges in its business, making it a laggard in the S&P 500.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70