Stocks advanced Monday as the second half of 2024 began, with investors hoping to build on the year’s solid first six months.
The S&P 500 gained 14.5% in the first half due to continued interest in artificial intelligence and firms like Nvidia, while the Nasdaq Composite rose 18.1%.
The Dow Jones Industrial Average underperformed due to a second-quarter downturn, gaining 3.8%. In the second quarter, the S&P and Nasdaq rose by 3.9% and 8.3%, respectively, while the Dow fell by 1.7%.
The Nasdaq recorded its third consecutive positive quarter for the first time since a five-quarter streak ended in 2021.
Some anticipate that this technology-driven momentum will last at least through the summer, despite some concerns that multiples have reached new highs.
Source (CNBC)
