Edge st driver#
"The market continued to climb a wall of worry fueled by optimism surrounding AI, which represents a new growth driver in a premier growth sector," said Sam Stovall, chief investment strategist of CFRA Research in New York.įinancial markets are pricing in an 84% probability that the Federal Open Market Committee will implement another 25 basis-point rate hike at the conclusion of its July policy meeting, CME's FedWatch tool showed. The Dow registered a 3.8% year-to-date gain. The Nasdaq 100 (.NDX) logged its biggest first-half gain on record, jumping 38.8%. In the first half of 2023, the S&P 500 advanced 15.9%, while the tech-heavy Nasdaq Composite (.IXIC) rode the artificial intelligence wave, surging 31.8%, its best performance in four decades. "This was one of the best starts to the year ever for Nasdaq and large cap technology names, but let's not forget they were the hardest hit group in the vicious bear market of 2022."
"It's a nice cherry on top to the end of a great quarter and an even better start to 2023," said Ryan Detrick, chief market strategist at Carson Group in Omaha. stock indexes surged, notching weekly, monthly and quarterly gains.
NEW YORK, June 30 (Reuters) - Wall Street closed sharply higher and the dollar softened on Friday as investors closed the books on a solid quarter, with data showing progress in the Federal Reserve's efforts to tame inflation.Īll three major U.S.
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