On December 31, 2024, the S&P 500 index experienced a decrease of 0.4% as it concluded a year marked by strong stock market performance. This downward trend was part of a broader decline among major U.S. stock indexes, which continued from the post-Christmas period. The Nasdaq Composite Index fell by 0.9%, while the Dow Jones Industrial Average saw a minimal decline of less than 0.1%.
Tesla’s stock led the S&P 500 decliners, dropping by 3.3% ahead of its upcoming quarterly delivery report. Analysts anticipate that Tesla will post record fourth-quarter delivery numbers, although projections for total vehicle deliveries for the year are still below the company’s earlier guidance.
In contrast, shares of semiconductor giant Nvidia rose significantly over the year, accumulating an impressive 170% gain, but saw a 2.3% decline in the final trading session. Analysts remain optimistic about Nvidia’s future growth, particularly in the AI and gaming sectors. On another note, Texas-based power generation company NRG Energy experienced a 2.1% drop, which slightly reversed its substantial gains for the year, despite a general positive outlook for energy companies linked to AI data centers.
Moderna’s stock stood out positively, rising by 5.6% and marking the best performance among S&P 500 stocks on that day. Analysts have identified Moderna as potentially undervalued, considering its significant decline earlier in the year fueled by high research and development spending. In the oil sector, a rise in crude oil futures benefited companies such as APA Corporation and Marathon Petroleum, which saw their shares increase by 3.0% and 2.9%, respectively.
Finally, Lamb Weston shares climbed 2.9% amid ongoing corporate changes influenced by activist investors, following a loss report and a downward revision of its guidance for the year.