Magnificent Seven dominates S&P 500 driving more than half of the 2024 gains

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Jan. 06, 2025 11:37 AM ETS&P 500 Index (SP500), SPYAAPL, RSP, GOOG, AMZN, MSFT, NVDA, TSLA, META, GOOGL, MAGS, MAGX, QQQU, QQQDBy: Jason Capul, SA News Editor
(2min)

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The concentration of the Magnificent Seven within the S&P 500 (SP500) continued to expand in 2024, with the group now accounting for a third of the benchmark index’s total weight which up from 20% from just two years ago.

Despite