It's been a rough month for most S&P 500 stocks. But some are absolutely thriving.
Five stocks, including Newmont, Freeport-McMoRan and United Airlines, are up more than 7% since the S&P 500 peaked this year on March 27, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. The S&P 500 itself is down 5.6% in that time.
Investors worry disappointing earnings this week from tech giants might intensify the selling. "Any disappointment from the mega tech names reporting could push this week's oversold market deeper into oversold territory," said Quincy Krosby, chief global strategist at LPL Financial.
But in the meantime, some S&P 500 are rallying anyway.
Finding Winners In The S&P 500
It's been a rough April so far for S&P 500 stocks. More than 430 stocks, or 86% of the index, are down from the March 27 top. Finding winners is all that more difficult. But not impossible.
Newmont is the standout. Shares of the Denver-based explorer for gold, copper, silver, zinc and lead are up more than 10% from the S&P 500's peak this year. And it's a bit of an unexpected stock rally fanned by rising gold prices. The price of a troy ounce of gold is up 28% from its 52-week low and close to a high. Analysts now think Newmont's profit this fiscal year will rise more than 29%.
In a similar vein is Freeport-McMoRan. Shares of the mineral miner based in Phoenix are up 8.5% from the S&P 500's peak. It, too, is benefiting from rising gold prices. Gold is rallying as inflation in many parts of the world, including the U.S., is proving to be more tenacious than hoped. Analysts think Freeport-McMoRan's profit will only rise 1.3% this year. But it's seen jumping 32% in 2025.
Not Just Commodities Are Rising
Don't assume, though, investors are just hunkering down with miners and gold plays. United Airlines' stock is up nearly 9% from the market's top. Consumers remain willing to pay up, even borrow money, to travel more than many expected.
The airline on April 16 reported a loss per share of just 15 cents a share, considerably better than the expected loss of 57 cents a share. And while United's profit is expected to fall 1% this year, analysts predict a nearly 17% rebound in 2025.
There's no question April is turning out to be a tough month for S&P 500 investors. But you can still find spots that are working.
Top S&P 500 Stocks From The Peak
Biggest gainers from March 27, 2024
| Company | Ticker | % ch. from peak | Sector |
|---|---|---|---|
| Newmont | 10.7% | Materials | |
| United Airlines | 8.6% | Industrials | |
| Freeport-McMoRan | 8.5% | Materials | |
| Generac Holdings | 7.6% | Industrials | |
| Bunge Global | 7.2% | Consumer Staples |
