Wall Street Steady, S&P 500 Set for Strongest Quarter Ever
US stock indexes traded modestly on Tuesday (June 30th), amid renewed stability in the technology sector and easing inflation risks. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average gained only slightly, with the Dow hitting a new high.
Artificial intelligence (AI) stocks remained well above last week's lows. The market began to ease concerns about AI trading, which had been deemed too speculative, after several chipmakers provided strong performance projections.
Several technology stocks, including Nvidia, AMD, SanDisk, and Intel, rose as much as 1.5%. Meanwhile, oil prices, approaching pre-war levels, helped ease concerns that the Federal Reserve would be pushed back into an interest rate hike cycle.
More stable conditions for the corporate sector also supported traditional stocks, many of which are included in the Dow. This allowed the Dow to outperform other indexes throughout June. Alphabet shares have also risen more than 4% since officially joining the Dow on Monday.
Meanwhile, the S&P 500 is expected to record a gain of around 14% throughout the second quarter. If realized, this achievement would be the Wall Street benchmark's best quarterly performance in the last six years. (yds)
Source: newsmaker.id
