By Philip van Doorn, MarketWatch
It’s not unusual to see tremendous bounces for stock prices during a bear market, and U.S. stocks have staged an impressive rally. A quick look back over the past year shows the U.S. market as a whole is down only moderately, while technology stocks have fared well, despite the coronavirus pandemic.
Below are lists of 12-month winners and losers for the S&P 500 and Nasdaq-100 Index. Of course, past performance doesn’t predict the future. Stocks rarely go up (or down) in a straight line. They may slide again and push through the lows of March. Companies are only beginning to report first-quarter earnings. Second-quarter economic figures will be dismal, and most won’t be available until July. We may be very early in the stock market’s reaction to the coronavirus recession, or we may be through the worst. But the one-year figures show that investors who can take a deep breath during a market crash may feel quite differently after a relatively short period.
A quick recap of recent market action:
• After hitting a closing high on Feb. 12, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.25% plunged 37% through March 23, followed by a 29% rally through April 14. The index was down 9% for one year through April 14. (All figures in this article exclude dividends)
• After hitting its closing high on Feb. 19, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.81% skidded 34% through March 23. Then it rallied 27% through April 14. For 12 months, the benchmark index was down only 2% through April 14.
• The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.26% also hit its closing high on Feb. 19, followed by a 30% decline through March 20. After a 24% rally through April 14, the Nasdaq’s was up 8% for 12 months.
• The Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX +0.34% is a subset of the largest 100 companies listed on the Nasdaq Exchange, excluding financial companies. It also hit a closing high on Feb. 19, followed by a 28% decline through March 20, after which it rallied 24% through April 14. It was up 14% for one year through April 14.
The Nasdaq-100 Index is tracked by the Invesco QQQ Trust /zigman2/quotes/208575548/composite QQQ +0.29% .
A good 12 months for tech
Here’s how the 11 sectors of the S&P 500 performed for 12 months through April 14:
|S&P 500 Sector||Price change - 12 months|
It’s probably no surprise to see energy at the bottom of the list, with the coronavirus shutdown causing demand for oil and gasoline to collapse. The tech sector has topped the list, and there has been no shortage of money managers saying that the trend toward cloud-based collaboration will only accelerate during and after the crisis. These have included Amy Zhang of Alger Funds and Tom Plumb of Wisconsin Capital Management.
One rising star that is listed on the Nasdaq but not yet part of the Nasdaq-100, is Zoom Video Communications /zigman2/quotes/211319643/composite ZM +1.88% , which has soared 142% in 2020 as people stuck at home have found it so easy to use.
S&P 500 12-month winners and losers
Here are the 20 stocks among the S&P 500 that have risen the most over the past 12 months through April 14: