PITTSBURGH — There is almost $70 billion more value in the major public companies based in the Pittsburgh region at the end of 2024 compared to the start of the year.
The public companies based in the Pittsburgh region saw a combined 18% gain in their stock prices during 2024, another year of strong share price performances, after these stocks rose by about 40% in 2023.
Those gains for local stocks outpaced the growth of the Dow Jones Industrial Average as a whole, which was up 13% in 2024. The S&P 500 Index was a bit stronger than local stocks, growing 25% in 2024, and the Nasdaq Composite was up even more, posting a 31% gain in 2024.
After a rough first week of August wiped about 4.5% of the Dow Jones Industrial Average in a seven-day period, by the end of August the Dow and Pittsburgh Stock Index (measuring 38 major public companies and banks based in the region) each were back up above their previous highs for the year. All three major indices and the Pittsburgh Stock Index posted their highest values of the year at some point in December.
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