Magnificent Seven's Market Capitalization Share of S&P 500 Rises from 28.1% to 33.7% in 2024

The Magnificent Seven's market capitalization share of the S&P 500 experienced significant shifts in 2024, characterized by a strong start, mid-year challenges, and a late-year recovery.

·      Strong Start (January–July): By July 10, the Magnificent Seven's market capitalization soared 41.2% year-to-date, far outpacing the rest of the S&P 500's 8.8% gain. Their market capitalization share increased from 28.1% to a peak of 34.2%.

·      Mid-Year Setback (July–November): From July 10 to November 22, their market capitalization slipped by 1.6%, while the rest of the S&P 500 gained 10.4%. This reduced their market capitalization share to 31.4%.

·      Late-Year Rebound (November–December): Renewed investor confidence drove their market capitalization share back up to 34.4% by December 24. The year ended with the Magnificent Seven holding a 33.7% market capitalization share of the S&P 500, a significant rise from the start of the year.