标准普尔500指数创下2020年以来最强劲的第三季度表现

The S&P 500 (SP500) and the tech-heavy Nasdaq Composite (COMP:IND) posted their strongest third-quarter performance since 2020, while the Dow Jones Industrial Average (DJI) closed at a record high.

Momentum built throughout Q3 as market conditions remained unusually calm, with volatility subdued. Investor sentiment was lifted by resilient corporate earnings, optimism around artificial intelligence, and expectations of monetary easing.

AI and big tech stocks once again drove the rally, with the “Magnificent 7” contributing a large share of gains on the back of robust demand for AI infrastructure and cloud services. The Nasdaq Composite rose 12.2% in the quarter, the Dow gained 4.3%, and the Nasdaq 100 (NDX) — home to Apple (AAPL) +22.5%, Microsoft (MSFT) +5.3%, Amazon (AMZN) -0.4%, and Nvidia (NVDA) +21.2% — advanced nearly 10%.

The S&P 500 (SP500) added almost 8% in Q3, hitting 23 record highs during the period — among the most ever in a single quarter. One-month volatility for the index averaged 10.8, the lowest for any quarter since late 2019, according to Reuters. Among the sectors, Technology (XLK) +12.3%, Communications (XLC) +9.8% and Consumer Discretionary (XLY) +9.8% led the gains, while Consumer Staples (XLP) suffered the steepest losses at -4.4%.

Looking ahead, risks remain. The U.S. government shutdown, inflation surprises, or a slowdown in AI spending could test investor optimism in Q4.

Against this backdrop, Seeking Alpha reviews the top and bottom performers in the S&P 500 for Q3, along with key ETFs for additional insight.

Q3 Gainers

• AppLovin (APP) +113.4%
• Western Digital (WDC) +88%
• Warner Bros. Discovery (WBD) +78.5%
• Seagate Technology (STX) +62.7%
• Corning (GLW) +55.9%
• Robinhood Markets (HOOD) +55%
• Teradyne (TER) +49.7%
• Tesla (TSLA) +47.8%
• Arista Networks (ANET) +47.3%
• Intel (INTC) +46.8%

Q3 Decliners

• Molina Healthcare (MOH) -37.5%
• Centene Corporation (CNC) -37%
• FactSet Research Systems (FDS) -36.4%
• CarMax (KMX) -36.2%
• Align Technology (ALGN) -35.5%
• Gartner (IT) -35.4%
• Charter Communications (CHTR) -34.2%
• The Trade Desk (TTD) -33.3%
• Chipotle Mexican Grill (CMG) -32.7%
• Lululemon Athletica (LULU) -27.4%

Here are some exchange-traded funds that track the benchmark S&P 500 index (SP500): (NYSEARCA:SPY), (NYSEARCA:VOO), (NYSEARCA:IVV), (NYSEARCA:RSP), (NYSEARCA:SSO), (NYSEARCA:UPRO), (NYSEARCA:SH), (NYSEARCA:SDS), and (NYSEARCA:SPXU).