In an attempt to sustain the robust momentum shown in the first half of 2024, Wall Street saw higher stock prices on Monday.
In contrast, the S&P 500 saw a 0.1% increase while the Dow Jones Industrial Average rose 64 points. A 0.5% gain was made by the Nasdaq Composite.
Artificial intelligence favoured Nvidia, while technology firms Microsoft and Alphabet went slightly higher. With the benchmark 10-year bond rising more than 13 basis points to 4.477%, Treasury rates skyrocketed.
Such actions come in the wake of ongoing enthusiasm around AI, which supported companies like Nvidia and helped the S&P 500 gain 14.5% in the first half of the year.
After a retreat in the second quarter, the Dow Jones Industrial Average underperformed, adding 3.8%, whereas the Nasdaq Composite surged 18.1% in the first half.
Source (CNBC)
