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Jun 6, 03:01 PM
S&P 500 Surges Nearly 20% Since April Low Above 6000, Led by Nvidia, Meta, Broadcom, Tesla, and Microsoft
Stocks
Business

S&P 500 Surges Nearly 20% Since April Low Above 6000, Led by Nvidia, Meta, Broadcom, Tesla, and Microsoft

Authors
  • Clay Travis
  • Geiger Capital
  • Bespoke
8

The S&P 500 has experienced a notable recovery since its closing low on April 8, 2025, rising by approximately 20%. The index is currently trading just about 1.5% to 2% below its all-time highs, surpassing the 6000 mark. This rebound has been driven by strong performances from major technology and trillion-dollar market-cap companies. Notably, 17 stocks in the S&P 500 reached new 65-day relative highs, including Nvidia (NVDA) hitting a 91-day high and Meta Platforms (META) a 74-day high. Several stocks, such as Broadcom (AVGO), Netflix (NFLX), Amphenol (APH), Axon Enterprise (AXON), and Quanta Services (PWR), achieved all-time relative highs. Since the April lows, Broadcom has surged 93%, Nvidia 65%, Netflix and Taiwan Semiconductor Manufacturing Company (TSM) 54% each, Meta 44%, Microsoft 36%, Tesla 33%, Amazon 31%, Alphabet (GOOGL) 21%, and Apple 19%. Among these, Netflix stands out as the only non-trillion-dollar company. The technology sector dominates the list of top performers, with 19 S&P 500 stocks up more than 50% since April 8. Microsoft recently hit new all-time highs, while Meta and Nvidia are within 6% to 7.5% of their all-time highs. Amazon, Alphabet, Apple, and Tesla remain further behind, with Tesla approximately 63% away from its peak. On June 6, the MAGS ETF rose over 2.5%, led by a nearly 6% rebound in Tesla. Nvidia gained nearly 2%, while Apple, Amazon, and Meta rose more than 2%, and Alphabet increased by over 3%. Microsoft was the laggard among these, with a gain of less than 1%.

Written with ChatGPT (GPT-4).

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