A boom in artificial intelligence fueled a blistering first half for the US stock market, and traders expect to see the same — and more — in the remainder of the year.
The S&P 500’s current bull run has added more than $16 trillion in market value since a closing low of 3,577.03 on October 12, 2022. It now trades within striking distance of 5 500. AI chipmaker Nvidia contributed the most to the S&P 500’s rally in 2024. Even with a recent pullback, it rallied roughly 150% on a total return basis. Runners-up are Constellation Energy Corp, rising nearly 72%, followed by General Electric Co, Eli Lilly and Co, and Micron Technology.In terms of index-point contributions, Nvidia also holds the top spot, adding 218 points. Microsoft added 64 points, while Amazon.com, Meta and Apple rounded out the top five.