The US stock market had a strong first half, fueled by AI companies; analysts predict more gains.

From Yahoo Finance: 2024-06-29 08:00:00

The US stock market had a booming first half of the year, with the S&P 500 Index climbing 14% since January, fueled by demand for companies linked to artificial intelligence. The rally has added over $16 trillion in market value, with tech and communication services leading the gains. Despite signs of economic cooling, the Federal Reserve is considering trimming rates after a tightening campaign. Analysts predict more gains for the remainder of the year, but uncertainty looms with the US presidential election and interest-rate cuts. Some warn that tech stock valuations are overblown, leading to potential market pullback.



Read more at Yahoo Finance: Where Stock Market Is Headed After Wild First Half: Five Charts