How Nvidia has powered the S&P 500: Chart of the Day

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How Nvidia has powered the S&P 500: Chart of the Day

00:00:00 Speaker A

Nvidia’s had a growing impact on the S&P 500 and the S&P 500 gains. So we posed that question earlier today to Dave Mozza, the CEO over at Roundtable Investments to ask him just how much are this round of Nvidia earnings is going to matter for the S&P 500. I want to take a look at what he had to say.

00:00:23 Dave Mozza

We know Nvidia due it, due to its size and scale and the broader markets and major indices and ETFs what have you, uh, is incredibly important. And but it’s incredibly important not, not just because it’s impact, it’s revenue and earnings has, uh, on broader indices, but actually it’s sort of tip of the spear for this whole AI revolution.

00:01:01 Speaker A

So Mozza mentioning how important Nvidia’s been, calling it the tip of the spear for the AI revolution, but in our chart of the day, what we’re looking at here is simply how much Nvidia itself, that one stock has meant for S&P 500 gains. We’re looking at gains in the S&P 500 since November 30th, 2022. That was when Chat GPT launched and the overall kickoff of that AI *****. You can see here Nvidia has accounted for 17.21% of the S&P 500’s total gains over that time *******. That means that the 499 companies in the S&P index, the other 499 have accounted for just 82.8. So essentially saying that Nvidia itself was worth almost a fifth of the S&P 500 gains in that two and a half year *******. That is why heading into earnings, Nvidia’s earnings Wednesday after the bell, people care so much about what this company has to say and how the stock moves. It’s one of the largest holdings in the S&P 500. How Nvidia moves after earnings could matter for the S&P 500 overall and the other companies within that index and sort of that momentum AI trade.

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