Energy Sector Delivered Mixed Results in 2024

The S&P 500 closed out 2024 with a total return of 23.3%, building on its 24.2% gain in 2023. Despite a weaker finish to the year, the index notched 57 record closes, fueled by optimism around artificial intelligence (AI) and the Federal Reserve’s interest rate cuts. Every sector in the index posted gains for the year, but seven of the eleven sectors underperformed the broader benchmark, while five delivered returns of at least 20%. Artificial intelligence stocks were at the forefront of the market’s surge. Nvidia’s impressive…