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Stocks rose on Tuesday, boosted by sharp gains in chips, as Wall Street set out to wrap up a strong first half and second quarter.
The Dow Jones Industrials recovered 135.07 points to 52,317.81
The S&P 500 grew 58.57 points to 7,499.
The NASDAQ shot higher 393.58 points, or 1.5%, to 26,213.72
Tuesday marked the final day of the first half and the second quarter.
The Dow climbed more than 8% in the first six months of the year, putting it on pace for its best first-half performance since 2021, when it jumped 12.7%.
The S&P 500 was also up more than 8% in the first half, while the NASDAQ outperformed with a more than 11% advance.
The start of the year was characterized by volatility. While the major averages hit all-time highs, they did so in spite of wild swings in energy prices due to the Iran war as well as uncertainty around the sustainability of AI spending.
The second quarter of the year, however, has been especially strong for stocks, as fears around the AI trade eased and the war appeared to near a resolution.
The S&P 500 is ahead 14% and NASDAQ has risen about 20% for Q2, on pace for their biggest quarterly gain since the second quarter of 2020. The Dow has gained more than 12% in that time, headed for its strongest quarter since Q4 2022.
Prices for the 10-year Treasury withered, raising yields to 4.44% from Monday’s 4.37%. Treasury prices and yields move in opposite directions.
Oil prices ditched 67 cents to $70.08 U.S. a barrel.
Gold prices sank $3.70 to $4,035.20 U.S. an ounce.
