2024 continues the amazing equities run in the US. After gaining over 20% in 2023, the US S&P 500 gained another 25% in 2024.
Big tech stocks led the gains. Nvidia surged almost 180% and became the latest $3 trillion company, fueled by the generative AI boom. Apple, an already $3 trillion company before 2024, surged 37% and is now just 4% away from becoming a $4 trillion company. Similarly, Alphabet surged 38% having caught up with OpenAI with its own generative AI offerings.
In Malaysia, the KLCI index gained a respectable 9.6% in 2024 and almost touched a 5-year high. Construction related stocks continued their strong run. Gamuda gained over 100% while Sunway Construction gained almost 140%.
All in all, it’s been a good year for equities.
The Finance Durian 