The SPDR S&P 500 ETF has bounced back this week and surged to a new record high. SPY and other S&P 500 funds like VOO and IVV have risen in the last three straight days. These gains were driven by a recent inflation report that showed core prices dropped slightly last month.
The SPY ETF also jumped after Donald Trump’s swearing-in this week and the rising hope that he is using the tariff threat to negotiate trade deals. So, let us look at the top stocks that are driving the S&P 500 gains this year.
The caveat here is that the year is still young, and a lot will change as companies publish their financial results.
Constellation, Vistra, and GE Vernova
The top 3 companies in the S&P 500 index this year are in the energy industry. Constellation Energy stock price has jumped by almost 50% this year, while Vistra and GE Vernova have jumped by 35% and 30%.
Constellation stock is up by over 183% in the last 52 weeks, helped by the deal to restart its nuclear power plant in a deal with Microsoft. Vistra has soared by over 367% as demand for the power utility company continued rising because of the AI trend.
The AI macro theme has also helped GE Vernova do well. Just this week, Donald Trump witnessed the signing of a deal between OpenAI, Softbank, and Oracle that will see numerous data centers built this year.
Micron Technology
Micron Technology stock price has jumped by about 30% making it the fourth-best performing company in the semiconductor industry. This growth happened because of the general view that the firm is highly undervalued and that the chip industry is doing well.
A key catalyst emerged with the strong Taiwan Semiconductor earnings published earlier this month. The company will also benefit from the ongoing AI investments in the US.
Texas Pacific Land
Texas Pacific Land, which we have covered before here and here, is another top-performing SPY ETF this year as it soared by over 28%. It has also jumped by over 185% in the last 12 months.
The main catalyst for the Texas Pacific Land is that its insiders have been buying the stock aggressively in the past few years. They bought 2,632 shares, currently worth over $3.7 million in the last 12 months.
The company is also expected to benefit from the potential energy boom during the Trump administration.
Walgreens Boots Alliance
The other good-performing SPY ETF stock is Walgreens Boots Alliance, a company that has become a fallen angel in the past few years. Walgreens is up over 25% this year but has retreated almost 50% in the last 12 months.
The main reason for the Walgreens Boots Alliance stock price surge is that there are rumours that it will be taken private by Sycamore Partners. Such a move would help it to restructure its business in the private market and then it is listed as a leaner and better-performing company.
The other top-performing SPY ETF stocks this year are firms like Applied Materials, CVS Corp, Arista Networks, Intuitive Surgical, and Citigroup.
On the other hand, the worst-performing companies in the SPY ETF are Edison International, Constellation Brands, Pacific Gas & Electric, Las Vegas Sands, Brown Forman, and Enphase Energy.
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