As 2024 comes to a close, the US stock market has shown strong upward momentum, driven by the AI boom and interest rate cuts from the Federal Reserve, capturing the attention of global investors. Numerous American companies have made headlines this year, shaping the performance of the market. Here are the top ten significant events in the US stock market for 2024:

1. The Rise of Palantir

Fueled by the tech wave, Palantir (PLTR.US) emerged as the top performer in the S&P 500, with a staggering increase of nearly 380%. While traditional tech giants like Nvidia (NVDA.US) often steal the spotlight, Palantir's success highlights its unique advantages in big data analytics and artificial intelligence. The company's strategic positioning, particularly in defense and business intelligence, has made it a favorite among investors.

（Source：uSMART HK）

2. ExxonMobil’s Massive Acquisition

In 2024, global oil giant ExxonMobil (XOM.US) shocked the energy sector by acquiring Pioneer Natural Resources for $64.5 billion. This move not only solidified ExxonMobil's market position but also enhanced its research and development capabilities in the renewable energy sector. Pioneer’s rich reserves of unconventional oil and gas, along with advanced extraction technologies, will open new growth opportunities for ExxonMobil. Meanwhile, this transaction has intensified survival pressures on smaller oil companies and accelerated strategic mergers among larger firms.

3. Lineage’s Successful IPO

Cold chain logistics company Lineage (LINE.US) made headlines in July 2024 by successfully raising $5.1 billion in its initial public offering (IPO), making it the largest IPO in the US market this year. This funding will inject new momentum into the cold chain logistics industry. Lineage has built a robust network in temperature-controlled logistics, serving critical industries such as food, pharmaceuticals, and fresh produce.

4. SpaceX’s Record Valuation

Elon Musk’s SpaceX achieved a remarkable valuation of $350 billion in 2024, becoming the largest unicorn in history. This leap in valuation reflects investors' high regard for the future potential of the space economy. SpaceX's breakthroughs in reusable rocket technology have not only reduced launch costs but also advanced the commercial aerospace market. Successful launch missions and commercial operations have further solidified its leadership position in the aerospace sector.

5. MicroStrategy’s Bitcoin Investments

MicroStrategy (MSTR.US) has gained widespread attention in the market due to its unique investment strategy. The business intelligence software company continued to heavily purchase Bitcoin in 2024, accumulating a total of 444,262 bitcoins worth approximately $41.3 billion. With Bitcoin experiencing a strong rebound, MicroStrategy’s stock price surged an astonishing 467% this year, earning it the title of “Bitcoin whale” in the US market.

（Source：uSMART HK）

6. Berkshire Hathaway’s Cash Record

Under Warren Buffett’s leadership, Berkshire Hathaway (BRK.B.US) reached a record cash balance of $325.2 billion by the end of the third quarter of 2024. This figure not only underscores Berkshire’s financial strength but also sparked widespread discussion about Buffett’s investment strategy. Analysts generally view Buffett's cash accumulation as a sign of caution regarding market valuations and economic outlook.

7. Microsoft’s Nvidia Chip Purchases

Amid intensified competition in the AI sector, Microsoft (MSFT.US) made headlines in 2024 by purchasing nearly 485,000 Nvidia AI chips, far exceeding its competitors in the tech space. This strategic move gives Microsoft a significant edge in building next-generation AI systems and encourages other tech giants to increase their investments in AI chip technology, driving innovation and development across the industry.

8. Google’s Quantum Computing Breakthrough

Google (GOOG.US) announced a groundbreaking achievement in 2024 with the launch of its quantum computing chip, "WILLOW," which it claims can perform calculations in less than five minutes that would take today’s most powerful supercomputers 10^25 years to complete. This revolutionary development not only reshapes our understanding of computational power but also signals the dawn of a new computing era, opening up possibilities for AI and other technological applications.

9. Intel’s Challenges

Once an undisputed leader in the semiconductor industry, Intel (INTC.US) faced unprecedented turmoil in 2024 due to technological stagnation and an inability to keep pace with the AI wave. The company's stock price plummeted nearly 60%, and it announced layoffs of over 16,000 employees, marking the largest downsizing in the tech sector this year, reflecting investor concerns about its future prospects.

（Source：uSMART HK）

10. Political Resistance to Japanese Steel Acquisition

In a globally integrated economy, Japanese steel giant Nippon Steel's attempt to acquire US Steel (X.US) faced unprecedented political resistance. Both President-elect Trump and current President Biden surprisingly aligned against the deal, highlighting the complexities and sensitivities surrounding cross-border acquisitions. This event emphasized the importance of the steel industry to the US manufacturing sector and national security, leaving the future of the transaction shrouded in uncertainty.

These events not only profoundly impacted their respective companies and industries but also reflected broader changes and trends in the global economy, showcasing the unique characteristics of the US stock market in 2024. As the market continues to evolve, many more exciting developments are anticipated in the future.

How to Trade on uSMART

After logging into the uSMART HK APP, click on the search icon at the top right of the screen. Enter the stock code, such as "PLTR.US" to access detailed information, trading history, and trends. Click the “Trade” button at the bottom right, select the “Buy/Sell” function, and submit your order after filling in the transaction conditions.

（Source: uSMART HK）