Apple and, to a lesser extent, Microsoft are the two biggest contributors to the S&P 500′s gains this year.
2019 is shaping up to be a historic year for the S&P 500, and the benchmark has two stocks to thank.
Apple and Microsoft, which surged 85% and 55% this year, respectively, together accounted for nearly 15% of the S&P 500′s advance in 2019, according to S&P Dow Jones Indices. Their influence to the cap-weighted index this year is greater than the next eight biggest contributors combined. Through Monday, the S&P 500 was up 28%.
The S&P 500′s 2019 gain is its best since 2013 and could be even more historic if stocks continue to gain on Tuesday. The benchmark is a percentage point away from having its best year since 1997.
MacDailyNews Take: A rising boat, or two, lifts all tides.