U.S. Stocks Climb 8.9% to 12.5% in H1 as Earnings and AI Chipmakers Lead
Updated
Updated · abcnews.com · Jun 30
U.S. Stocks Climb 8.9% to 12.5% in H1 as Earnings and AI Chipmakers Lead
3 articles · Updated · abcnews.com · Jun 30
Summary
The Dow rose 8.9% to above 52,000 in the first half, while the S&P 500 gained 9.4% and the Nasdaq jumped 12.5%, marking one of Wall Street’s strongest starts in years.
Strong corporate earnings powered the rally, supported by a sturdier-than-expected economy: U.S. employers added about 114,000 jobs a month from January through May and consumer spending held up despite high prices.
AI chipmakers supplied much of the market leadership, with Micron up 306% and Sandisk up 830%, offsetting a weak year for several former megacap leaders including Meta, down 15%, and Tesla, down 7%.
The second-half outlook is less settled because sticky inflation and labor-market resilience have lifted the implied odds of a September Fed rate hike to about 66%, even as some strategists still see further gains.