On Monday, stocks saw a rise as Wall Street attempted to sustain the robust momentum saw throughout the first half of 2024.
The S&P 500 increased by 0.1%, but the Dow Jones Industrial Average remained close to the zero line. The Nasdaq Composite increased by 0.6%.
Alongside Nvidia, a leader in artificial intelligence, technology equities Microsoft and Alphabet also saw a little increase in trading. Treasury rates shot through the roof, but gains were contained.
The yield on the benchmark 10-year note increased by 14 basis points to 4.481%. As Beryl hit landfall as a Category 4 hurricane in the Caribbean, stockpiles of cruise operators were put under pressure.
Royal Caribbean saw a 1.6% decline and Carnival fell 4%. These actions come in the wake of ongoing enthusiasm about AI, which supported companies like Nvidia and helped the S&P 500 gain 14.5% in the first half of the year.
The Nasdaq has Composite gained 18.1% throughout the first half of the year, while the Dow Jones Industrial Average underperformed with a 3.8% gain in the second quarter due to a pullback.
Source (CNBC)
