In 2024, megacap tech stocks, led by Nvidia’s remarkable 171% gain, drove the stock market to record heights. The Nasdaq Composite rose over 28%, while the S&P 500 and Dow Jones increased by 23% and nearly 13%, respectively. Non-tech companies also prospered, with Texas-based Vistra seeing a 258% rise as data center demand surged. Texas Pacific Land and United Airlines also thrived, gaining 111% and 135% respectively. Walmart’s commitment to low prices bolstered its stock by 72%. Deckers Outdoor, driven by the success of Hoka shoes, experienced an 82.3% increase. These trends underscore the evolving market landscape influenced by tech and consumer needs.
