Yes, the S&P 500 is up 17 per cent in 2024 and has exceeded 5,500 for the first time. Yes, the tech-heavy Nasdaq is doing even better, up 22 per cent and trading above 20,000.
Most stocks have been trending down recently, with more than half of S&P 500 companies trading below their 50-day moving average. Similarly, while the S&P 500′s maximum drawdown has been limited to just 5 per cent in 2024, the average stock’s maximum drawdown has been 15 per cent.Schwab analysts note just 17 per cent of stocks have outperformed the S&P 500 over the past year, while only 11 per cent of Nasdaq stocks have outperformed their benchmark.
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Source: IrishTimes - 🏆 3. / 98 Read more »