Which US companies have grown the most in the stock market in the first half of 2024?

Interest rates have been high and stubborn inflation yet to be conquered, US stock markets have had a very strong 2024. The Standard & Poor 500 has gained over 11% so far this year, while the Dow Jones surpassed 40,000 points.

While the current economic environment of higher interest rates and sluggish growth may not favor stocks in the short term, companies with strong fundamentals and long-term growth prospects can still make headway. Below is the list of the ten best performing publicly traded companies so far this year.

The top four companies are all in the healthcare sector, a particularly lucrative market in the US. The market as a whole is worth $808 billion in total, large enough to be the world’s 20th largest economy on its own. This massive market size provides significant opportunities for healthcare companies to generate revenue and profits.

The US healthcare system, with its reliance on private insurance and high out-of-pocket costs, allows healthcare companies to command higher prices compared to other countries with more centralised, government-run systems

Donald Trump’s company making good money for investors

Donald Trump’s social media company, Trump Media & Technology Group (TMTG), has been a profitable investment since its public debut in March 2024. The company, which operates the Truth Social platform, saw its stock price surge on its first trading day, valuing it at nearly $8 billion.

This eye-popping valuation has added billions to Trump’s net worth, at least on paper. Trump’s nearly 60% stake in TMTG is currently valued at around $5.7 billion, though it has been fluctuating a lot.