S&P, Nasdaq soar in 2023 due to massive tech shares

Fast Take

• Each the S&P 500 and Nasdaq Composite are up up to now in 2023; the S&P is up over 9%, whereas the Nasdaq Composite is up 25% 12 months to this point.
• Nevertheless, the uptick within the indices comes from simply the shares of Alphabet, Amazon, Apple, Meta, Microsoft, Tesla, and Nvidia when digging nearer into the information.
• These seven tech firm shares are up $3.16 trillion, or 46%, for the reason that begin of the 12 months, in line with Jeroen Blokland, the founding father of funding analysis agency True Insights
• Nevertheless, the mixed market cap of all different 493 shares within the S&P 500 index is down $0.85 trillion, or 3% this 12 months, in line with Blokland.
• In the meantime, Nvidia noticed an distinctive climb this 12 months, up over 158%, and on Might 25 noticed one of many largest single-day market cap beneficial properties in U.S. inventory market historical past, in line with Bloomberg and Yahoo Finance knowledge gathered by Statista.

The publish S&P, Nasdaq soar in 2023 thanks to big tech stocks appeared first on CryptoSlate.