# (NYSE:XOM) has stepped into the role Nvidia used to play: the number one bullish engine for the benchmark.

*business · news · 2026-04-07 · Benzinga*

## Key points

- Microsoft is currently the largest negative contributor to S&P 500 performance year-to-date.
- All Magnificent 7 tech stocks are now the top seven detractors from S&P 500 returns.
- Exxon Mobil has replaced Nvidia as the top positive contributor to the S&P 500 in 2024.
- Traditional oil and gas companies like Exxon and Chevron are now stabilizing the S&P 500 index.

**Companies:** Microsoft, Exxon Mobil Corp., Nvidia, Chevron Corp.
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/trading-ideas/movers/26/04/51685501/microsoft-is-now-the-biggest-deadweight-on-sp-500-and-exxon-is-what-nvidia-used-to-be)

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