The US stock market closes 2024, with the largest gain among the three major indices exceeding 700%, surpassing NVIDIA!

In 2024, as the U.S. stock market closed, AppLovin, a component of the Nasdaq 100 Index, became the annual "stock king" with an astonishing increase of 713%, significantly outpacing the market focus stock NVIDIA's 171% rise, leading the three major index components.

Driven by the strong momentum of artificial intelligence concepts, the U.S. stock market exhibited distinct structural characteristics. AI concept stocks, represented by NVIDIA, generally ranked high on the gainers' list among the three major indices, while traditional consumer brands such as Nike and Estée Lauder faced severe setbacks, with declines exceeding 30%.

In 2024, despite facing multiple challenges such as the presidential election, inflation, and geopolitical conflicts, the three major indices still achieved overall gains. Among them, the Nasdaq 100 Index rose 27% for the year, the S&P 500 Index increased by 24%, and the Dow Jones Industrial Average climbed 13%.

Performance of the Three Major Index Components

(1) Best Performers

Best Performers in Nasdaq 100

• AppLovin topped the list with an astonishing 713% increase
• MicroStrategy followed closely with a 359% rise
• Palantir Technologies increased by 340%
• NVIDIA rose by 171%
• Axon Enterprise increased by 130%

Best Performers in S&P 500

• Palantir Technologies led with a 340% increase
• Vistra followed closely with a 256% rise
• NVIDIA rose by 171%
• United Airlines increased by 135%
• Axon Enterprise increased by 130%

Best Performers in Dow Jones

• NVIDIA led with a 171% increase
• Walmart rose by 72%
• American Express increased by 58%
• Goldman Sachs rose by 48%
• Amazon increased by 44%

(2) Worst Performers

It is noteworthy that some traditional consumer brands and technology companies performed poorly:

Worst Performers in Nasdaq 100

• Intel had the largest decline, down 60%
• MongoDB fell by 43%
• Biogen dropped by 41%
• DexCom decreased by 37%
• Microchip Technology fell by 36%

Worst Performers in S&P 500

• Walgreens Boots Alliance had the deepest decline, down 64%
• Intel fell by 60%
• Moderna dropped by 58%
• Celanese decreased by 55%
• Estée Lauder fell by 49%

Worst Performers in Dow Jones

• Boeing dropped by 32%
• Nike fell by 30%
• Amgen decreased by 10%
• Merck fell by 9%
• Johnson & Johnson fell 8%

Looking ahead to 2025, the inauguration of the new U.S. president and the earnings season will be important factors influencing the market, and investors need to continuously monitor the potential impact of these significant events on the market.

It is worth noting that the strong performance of AI concept stocks in 2024 may continue, but investors also need to be wary of the risks associated with overvaluation