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Charted: S&P 500 Sector Performance in 2023

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See this visualization first on the Voronoi app.

A bar chart showing the annual return of various S&P 500 sectors in 2023.

Charted: S&P 500 Sector Performance in 2023

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

While the Santa Clause rally of 2023 ultimately ended up fizzling out, the year was still an excellent one for U.S. equities. All three major indices ended December on a positive note, reversing the trend in 2022.

But thematically speaking, which parts of the market did well, and which ones felt the pressure?

We visualize the 2023 performance of individual S&P 500 sectors using data from S&P Global which uses their GICS methodology to differentiate sectors on the index.

Ranked: S&P 500 Sectors by 2023 Return

Information Technology, Communication Services, and Consumer Discretionary were the three biggest winners in 2023, all of them up more than 40% for the year.

Here’s a detailed look at how they all did in 2023.

RankS&P Sector2023 Return
1Information Technology+56.4%
2Communication Services+54.4%
3Consumer Discretionary+40.3%
4Industrials+16.0%
5Materials+10.2%
6Financials+9.9%
7Real Estate+8.3%
8Health Care+0.3%
9Consumer Staples-2.3%
10Energy-4.8%
11Utilities-10.4%

Note: Data as of December 29, 2023.

Information Technology enjoyed a substantial rally thanks to the AI craze, with stocks like NVIDIA and AMD seeing triple-digit gains.

Other tech bastions, Apple and Microsoft, both with the biggest weights in the index, also gained more than 50% for the year.

Meanwhile, top performers in Communication Services, Meta (+188%), Netflix (+63%), and Alphabet (57%) helped the sector nearly tie for first place.

From a dismal 2022 in particular, Netflix’s crackdown on password-sharing (which led to subscriber growth) and its ad-tier revenue growth has made the streaming service the one to beat in the space—especially since its competitors are still losing money.

Within Consumer Discretionary, big gains by index-heavyweights Amazon and Tesla cemented the sector solidly in third place. Travel companies like Royal Caribbean Cruises, Carnival, and Booking Holdings also saw strong returns.

On the other hand, Consumer Staples, Energy, and Utilities all closed with losses, with the latter suffering from a confluence of factors: dwindling recession fears, high treasury yields, and now-increasing concerns over wildfire exposure.

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Ranked: Top 10 Single-Day Market Cap Gains

Nvidia broke the record for the largest single-day market cap gains after adding nearly $250B on Feb. 22, 2024.

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The 10 Biggest Single-Day Market Cap Gains

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Since the COVID-19 pandemic, U.S. tech stocks have led in terms of market cap gains, sometimes boosting their valuations by hundreds of billions of dollars in a single day.

In this graphic, we’ve ranked the largest single-day gains ever recorded, using data from Bloomberg.

Top 10 List

The top 10 list includes just 5 companies, and all are based in the U.S.

RankDateCompanySingle-day
Market Cap Gain
(USD billions)
1Feb 22, 2024NVIDIA$247.0
2Feb 2, 2024Meta$196.8
3Nov 10, 2022Apple$190.9
4Feb 4, 2022Amazon$190.8
5May 25, 2023NVIDIA$184.1
6Jan 28, 2022Apple$178.9
7Jul 31, 2020Apple$169.0
8Oct 28, 2022Apple$150.5
9Mar 13, 2020Microsoft$150.4
10Apr 26, 2023Microsoft$148.3

To put these massive gains into context, consider this: As of May 2023, the average market cap of an S&P 500 company was $30.4 billion.

Meta’s $197B Record Didn’t Last Long

On Feb 2. 2024, Meta set a new record for the largest single-day gain after reporting strong quarterly earnings, as well as announcing $50B in share repurchases and its first ever dividend payment.

This record lasted only 20 days, however, as Nvidia’s massive Q4 2024 earnings beat sent it to all-time highs. The firm is now nearing a $2T valuation, firmly placing it among the world’s most valuable corporations.

More on Nvidia’s Earnings…

Nvidia reported $12.3B in net income during Q4 2024, which is 769% higher than the same quarter last year. Revenues are also up 265% from last year, largely driven by demand for its AI chips like the H100 Tensor Core GPU.

Nvidia’s earnings have seemingly shifted the AI craze into another gear, boosting other chip stocks like AMD and Super Micro Computer (SMCI) to double-digit % gains for the day (Feb 22).

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