·May 31, 2023·2 min read

S&P, Nasdaq soar in 2023 thanks to big tech stocks | CryptoSlate

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Insights Macro

S&P and Nasdaq show significant gains, but the full picture reveals more.

Quick Take

Both the S&P 500 and Nasdaq Composite are up so far in 2023; the S&P is up over 9%, while the Nasdaq Composite is up 25% year to date.
However, the uptick in the indices comes from just the stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Tesla, and Nvidia when digging closer into the data.
However, the combined market cap of all other 493 stocks in the S&P 500 index is down $0.85 trillion, or 3% this year, according to Blokland.

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Big Tech Market Cap: (Source: Bloomberg)

Nvidia market cap jump (Source: Statista)

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