Top stocks like Palantir, Vistra, NVIDIA, and United Airlines doubled in 2024

From Nasdaq: 2025-01-03 02:21:00

In 2024, the S&P 500 saw a 23.3% gain, following a 24.2% jump in 2023. The top four stocks that more than doubled include Palantir Technologies Inc., Vistra Energy Corp., NVIDIA Corp., and United Airlines Holdings, Inc., with a Zacks Rank #1 or #2. The market was driven by AI, rate cuts, and the Trump trade.

The “Magnificent Seven” tech stocks have driven the market rally, with a combined market-cap valuation surpassing $18 trillion. These stocks make up 31% of the S&P 500 and are expected to continue gaining in 2025. The Fed’s rate cuts in 2024 stimulated economic growth and helped boost the stock market.

President-elect Donald Trump’s win in November 2024 fueled hopes of deregulation, lower corporate tax rates, and a focus on the U.S. economy. Despite uncertainties, Wall Street expects strong trends to continue in 2025, with a median year-end target for the S&P 500 at 6,600, representing a 12% increase.

SPDR S&P 500 ETF Trust, with 503 stocks in its basket, saw a 25.5% gain in 2024. The ETF is balanced across sectors like technology, financials, consumer discretionary, and healthcare. It has an AUM of $626.4 billion, charges 9 bps in fees, and has a Zacks ETF Rank #2 with a Medium risk outlook.

Palantir Technologies, with soaring stock prices, has an estimated earnings growth rate of 24% for 2025 and a Zacks Rank #2. Vistra Energy and NVIDIA also performed well in 2024, with strong earnings estimates for 2025. United Airlines Holdings saw a 135.3% rise in 2024, with solid earnings estimates and a Zacks Rank #2.

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Read more at Nasdaq: The Zacks Analyst Blog SPY, Palantir, Vistra, NVIDIA and United Airlines