Summary
The S&P 500 is on target for another banner year in 2024, with an advance of more than 20%. The 2024 rally extended slightly from 2023, when only a handful of stocks drove the market higher. In 2024, several sectors outperformed the S&P 500, including Communications Services, Information Technology, Consumer Discretionary, and Financials. Even the Utilities sector rose almost 20%. The average BUY-rated stock covered by Argus increased by 19%, while the average HOLD-rated stock gained 0.5