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The U.S. stock market is now worth $63.8 trillion. In 2024, a year that defied expectations, the market added over $10 trillion in value. Think about it: that’s more than the combined GDP of many major economies. Over the past four and a half years, the market’s capitalization has doubled. Meanwhile, the entire stock markets of China, Hong Kong, and Europe combined trail behind by 50%. And let’s not even get started on the fact that the “Magnificent Seven” tech companies alone have a market cap larger than Europe’s entire stock market. This level of dominance is historic. The S&P 500 is expected to close out 2024 with a 24.3% increase, mirroring last year’s 24.2% rise. Back-to-back years of 20%+ growth? That hasn’t happened since the late 90s. It’s a monster bull run for the history books. Tech giants push the market to new heights The “Magnificent Seven” deserve their spotlight. Apple, Microsoft, Nvidia, Tesla, Alphabet, Amazon, and Meta didn’t just lead the charge, they bulldozed the competition. Nvidia, riding the hype of AI advancements, became a Wall Street darling. Its stock price soared to $134.37 by year’s end, with a 30% year-over-year revenue increase.  Tesla was another headline grabber. With a stock price of $404.57, the company shattered records by delivering 500,000 vehicles in Q3 alone. That’s a 20% revenue jump in a single year. Add in its groundbreaking battery tech, and you’ve got investors throwing cash at it like it’s going out of style. Microsoft? Oh, it had a year. Azure cloud revenue shot through the roof, driving a 25% annual revenue boost. Its stock closed the year at $421.18, making it one of the most reliable players in the tech industry. Apple didn’t lag behind either. With its iPhones flying off shelves, particularly in emerging markets, its…

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Filed under: News - @ January 1, 2025 10:26 pm