The S&P 500 is a stock market index that tracks the performance of 500 leading publicly traded companies in the United States. Representing about 80% of the total U.S. market capitalization, it serves as a key indicator of overall market health. As of January 2024, the aggregate market cap of the companies within the index exceeded $43 trillion. The index is widely followed by investors and analysts as a benchmark for U.S. equity performance.
In 1860, Henry Varnum Poor formed Poor's Publishing, which published an investor's guide to the railroad industry.
In 1906, the Standard Statistics Bureau was founded, later becoming the Standard Statistics Company.
In 1923, Standard Statistics Company developed its first stock market index consisting of the stocks of 233 U.S. companies, computed weekly.
Since its inception in 1926, the S&P 500 index's compound annual growth rate—including dividends—has been approximately 9.8% (6% after inflation).
In 1941, Poor's Publishing merged with Standard Statistics Company to form Standard & Poor's.
On March 4, 1957, the index was expanded to its current form of 500 companies and was renamed the S&P 500 Stock Composite Index.
In 1962, Ultronic Systems became the compiler of the S&P indices including the S&P 500 Stock Composite Index, the 425 Stock Industrial Index, the 50 Stock Utility Index, and the 25 Stock Rail Index.
On August 31, 1976, The Vanguard Group offered the first mutual fund to retail investors that tracked the S&P 500 index.
On April 21, 1982, the Chicago Mercantile Exchange began trading futures based on the S&P 500 index.
In 1982, the original SP big contract began trading.
On July 1, 1983, the Chicago Board Options Exchange began trading options based on the S&P 500 index.
Beginning in 1986, the S&P 500 index value was updated every 15 seconds, disseminated by Reuters.
On January 22, 1993, the Standard & Poor's Depositary Receipts exchange-traded fund issued by State Street Corporation began trading.
On September 9, 1997, CME Group introduced the S&P E-mini futures contract.
In 2005, the S&P 500 index transitioned to a public float-adjusted capitalization-weighting.
Friday, September 17, 2021, was the final trading date for the original SP big contract which began trading in 1982.
In October 2021, Bloomberg News reported that a study alleged that some companies purchase ratings from S&P Global to increase their chances of entering the S&P 500 Index—even without meeting the full criteria for inclusion.
In January 2024, the S&P 500 had an aggregate market capitalization of more than $43 trillion.
On September 30, 2024, the nine largest companies in the S&P 500 accounted for 34.6% of the index's market capitalization. These companies, ranked by weighting, were Apple, Microsoft, Nvidia, Amazon.com, Meta Platforms, Alphabet (Class A & C shares), Berkshire Hathaway, Broadcom, and Tesla.
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