Seven stocks are driving S&P 500 Index performance

Sources: FactSet and Wells Fargo Investment Institute, as of September 30, 2023. YTD = year to date. The S&P 500 Index is a market-capitalization-weighted index considered representative of the U.S. stock market. An index is unmanaged and not available for direct investment. Past performance is no guarantee of future results. Investing in stocks involves risk and their returns and risk levels can vary depending on prevailing market and economic conditions. The largest seven stocks in the S&P 500 Index are based on market capitalization.

Key Takeaways

  • Market breadth has been narrow this year, with the largest seven stocks in the S&P 500 Index, often dubbed the “Magnificent Seven”, being the major contributors to the index’s positive performance in 2023.