S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded

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  • #50567
    TradersCom
    Keymaster

    The Blue-Chip S&P 500 index had a dismal year, down 19.4% in 2022, it was the worst performance since 2008. The benchmark index saw one new high i
    [See the full post at: S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded]

    #50639
    TradersCom
    Keymaster

    No mercy in Last Year’s weakest $SPX as #Tesla wrecked on deliveries:

    $TSLA 111.90 -11.28 (9.16%)
    $GNRC 98.90 -1.76 (1.75%)
    $SIVB 227.92 -2.22 (0.97%)
    Some love in Match & Align
    $MTCH 41.58 +0.09 (0.22%)
    $ALGN 213.72 +2.82 (1.34%)

    #50644
    TradersCom
    Keymaster

    On first trading day of 2022 Apple became the only company ever to reach a $3tn valuation
    On the first trading day of 2023 $AAPL market value fell below $2tn

    $1tn wiped off in market cap at 1.98T 11:27 AM CST
    $AAPL $124.59 -5.34 (-4.11%)

    #50658
    TradersCom
    Keymaster

    More of the same for $SPX $ES_F $SPY: Big losses in widely held, heavily weighted stocks kept on pressure.

    Tesla $TSLA 108.10, -15.08, -12.2%
    Microsoft $MSFT 239.58, -0.24, -0.1%
    NVIDIA $NVDA 143.15, -2.99, -2.1%
    Apple $AAPL 125.07, -4.86, -3.7%

    Tesla disappointed with Q4 deliveries
    Apple reportedly told suppliers to build fewer components for several devices in Q1 due to weakening demand

    #50659
    TradersCom
    Keymaster

    There were some winners in mega-cap stocks however:

    Meta Platforms $META 124.75, +4.40, +3.7%
    Alphabet $GOOG 89.70, +0.97, +1.1%
    Amazon $AMZN 85.82, +1.82, +2.2% helped temper down losses on $SPX and $NDX

    #50660
    TradersCom
    Keymaster

    Last year’s best sector, the energy sector $XLE -3.6% was the worst performer today as energy complex futures sold off hard:

    WTI crude #oil futures fell 3.9% to $76.97/bbl
    HH #naturalgas futures fell 10.4% to $3.68/mmbtu.

    #50718
    TradersCom
    Keymaster

    Tesla Inc doing its best to right the ship
    $TSLA 112.89 ▲ +4.79 (+4.43%) today
    But Microsoft letting the ship down
    $MSFT 229.76 ▼ -9.82 (-4.10%) today

    #50719
    TradersCom
    Keymaster

    Meta Platforms (META 127.00, +2.31, +1.8%), and Apple (AAPL 126.86, +1.79, +1.4%) are also among the more influential standouts.

    All 11 S&P 500 sectors pushed into positive territory, The energy sector (+0.1%) joined after being in the red amid falling oil prices. WTI crude oil futures are down 4.8% to $73.21/bbl.

    #51595
    MoneyNeverSleeps
    Participant

    Mega Cap Tech Stocks continue 2023 bounce:
    Vanguard Mega Cap Growth ETF $MGK up 0.3% v 0.1% loss in the #SP500
    Tesla $TSLA 130.25, +7.91, +6.5%
    Apple $AAPL 136.26, +1.50, +1.1%

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