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The three key indices on the US stock market ended 2020 with a rise and new records.
- The Dow Jones Index rose 0.65 percent on Thursday.
- The S&P 500 Index was up 0.64 percent.
- The Nasdaq Composite was up 0.14 percent.
The Dow Jones and the S&P 500 rose to a new all-time high on Thursday. Although the high-tech Nasdaq Composite Index did not rise to a new high on Thursday, it is still one of three indices that made it by far the best last year with a 43.6 percent increase.
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The S&P 500 Index rose 16.3 percent last year, despite massive sales in February and March sparked by fears of the fallout from the coronavirus.
The US business newspaper CNBC has provided an overview of the companies that performed the best for their shareholders last year. Not surprisingly, it’s full of tech companies. Electric car maker Tesla reigns supreme with a 743 percent yield.
Both Tesla and the e-commerce company Etsy were included in the S&P 500 index late last year. If companies had been involved since the beginning of the year, on the other hand, the overall rise in the S&P 500 would have been greater.
3,400 billion
For the Nasdaq high-tech index, 2020 was an adventurous year. The 43.6 percent increase was the best since 2009, when the Nasdaq rose 43.89 percent. Since the turn of the millennium, 2003 has been the best year to date, when the high-tech index rose just over 50%.
Last year, the index rose on solid rallies for several of the Wall Street giants. The seven largest companies – Apple, Microsoft, Amazon, Alphabet, which owns Google, Facebook, Tesla and Nvidia – increased their total market value by a total of $ 34 trillion, according to CNBC.
This corresponds to about NOK 29 billion at the current exchange rate. The rise came despite the global pandemic and, at the same time, several of the tech giants were brought into the spotlight by US authorities.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content can only be done with written permission or as permitted by law. For more terms, see here.
- The market value of electric car maker Tesla increased from $ 76 billion in early 2020 to $ 669 billion at the end of the year. The stock entered the broad S&P 500 index just before Christmas.
- Nvidia, a company that makes computer chips, doubled in market value in 2020. At the end of the year, the company was valued at $ 323 billion.
- Apple, which received the largest increase of the seven, saw its market value increase by almost a trillion dollars, and at the end of the year it was worth about 2.2 trillion dollars.
- Amazon, led by the richest man in the world, Jeff Bezos, was worth about $ 1.6 billion at the end of 2020. During the year, the market value increased by $ 710 billion.
- Microsoft increased its market value by $ 480 billion during the year, while Facebook and Google’s owner Alphabet increased by $ 193 billion and $ 268 billion, respectively.
