The S&P 500 and Dow are on track to finish the quarter up 6.6% and about 2%, respectively.įor June, the S&P 500 and Nasdaq are on pace to close nearly 5% higher, while the Dow is poised for a monthly advance of 3.1%.īank of America is standing by Disney even as the company faces some hurdles. It's on pace for its best first half in 40 years as investors scoop up technology stocks after 2022's slump. The Nasdaq has gained 10.9% since the start of April and 29.5% this year.
"All we've been hearing about this year is the pending recession, but the truth is the economy is on solid footing and the odds of a recession decrease with each piece of economic data," said Ryan Detrick, chief market strategist at the Carson Group.įriday marks the end of the second quarter and first half of 2023. May durable goods data unexpectedly increased, while consumer confidence improved more than expected in June. The airline stock surged 6.8%.ĭespite Tuesday's broad market rally, Walgreens shed 9.3% after slashing its full-year profit guidance and reporting weaker-than-expected earnings.Įlsewhere, Wall Street assessed a fresh batch of economic data that signaled resilience despite fears of an impending recession. Consumer discretionary and travel stocks also took flight as Delta Air Lines boosted its financial guidance. Popular technology and artificial intelligence names such as Nvidia, Meta Platforms and Microsoft, rose on Tuesday, reversing Monday's selloff and lifting the tech-heavy Nasdaq. The S&P 500 advanced 1.15% to finish at 4,378.41, while the Nasdaq Composite surged 1.65% to settle at 13,555.67. The Dow Jones Industrial Average rose on Tuesday for the first time in seven days as Wall Street readied for the end of the first half and investors piled back into tech stocks.
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