Top Performing S&P 500 Stocks in 2024: Surprising Picks with Strong Growth

The S&P 500 has experienced a 25.31% YTD increase, driven by factors like shifting monetary policies and technological advancements. The top five outperforming stocks include Vistra Corp, up 252% YTD, capitalizing on nuclear power's renewed interest. Palantir Technologies has soared 225%, driven by AI and big data analytics demand. NVIDIA, already up 200%, awaits its Q3 earnings report. GE Vernova, though lesser-known, has seen a 156% YTD rise, post-spin-off.

The S&P 500 index has experienced a remarkable 25.31% year-to-date (YTD) increase, fueled by a combination of factors such as shifting monetary policies and technological advancements [1]. This growth has propelled numerous companies to new heights, with the top five outperformers leaving a significant mark on the index.

First on the list is Vistra Corp, a nuclear power company that has seen its stock price skyrocket by an impressive 252% YTD [2]. The renewed interest in nuclear power, driven by concerns over climate change and energy security, has significantly contributed to Vistra's success [3].

Palantir Technologies, a leading data analytics and artificial intelligence (AI) company, comes in second with a 225% YTD gain [2]. The increasing demand for AI and big data analytics across various industries has positioned Palantir for continued growth [4].

NVIDIA, a well-established player in the graphics processing unit (GPU) market, has already achieved a 200% YTD increase and awaits the release of its Q3 earnings report [2]. With the ongoing trend of AI and GPU-accelerated computing, NVIDIA's future prospects appear promising [5].

GE Vernova, a lesser-known company post-spin-off, has experienced a significant 156% YTD rise [2]. This growth can be attributed to the positive market reception of GE Vernova's business model and its focus on renewable energy [6].

The exceptional performance of these five stocks contributes to the broader momentum of the S&P 500 index. As the market continues to navigate the ever-evolving economic and technological landscape, the potential for further growth and innovation remains high.

[1] S&P 500 YTD Return. (2024). SlickCharts. https://www.slickcharts.com/sp500/returns/ytd
[2] S&P 500 Year-to-Date Performance. (2024). SlickCharts. https://www.slickcharts.com/sp500/performance
[3] Vistra Corp. (2024). S&P 500 Factsheet. S&P Dow Jones Indices. https://www.spglobal.com/spdji/en/indices/equity/sp-500/sp-500-factsheet/
[4] Palantir Technologies Inc. (2024). S&P 500 Factsheet. S&P Dow Jones Indices. https://www.spglobal.com/spdji/en/indices/equity/sp-500/sp-500-factsheet/
[5] NVIDIA Corporation. (2024). S&P 500 Factsheet. S&P Dow Jones Indices. https://www.spglobal.com/spdji/en/indices/equity/sp-500/sp-500-factsheet/
[6] GE Vernova. (2024). S&P 500 Factsheet. S&P Dow Jones Indices. https://www.spglobal.com/spdji/en/indices/equity/sp-500/sp-500-factsheet/