Nvidia ( NVDA Quick Quote NVDA - Free Report) jumped 190%, while Meta Platforms ( META Quick Quote META - Free Report) and Tesla ( TSLA Quick Quote TSLA - Free Report) rose 139% and 113%, respectively. The Nasdaq surged almost 40%, its best first half since 1983, while the broader S&P 500 gained 16%, its best first half since 2019. Additionally, the economy, labor market, housing market, and American consumers proved to be far more resilient than experts believed earlier.
The rally was primarily driven by mega-cap stocks that have benefited from optimism about artificial intelligence.
Stocks posted their best first half in decades, defying skeptics and climbing over all walls of worry.
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