Where Stock Market Is Headed After Wild First Half: Five Charts
- S&P 500 has posted 31 records in the first six months of 2024
- Tech high-flyers have contributed the most to index’s advance
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A boom in artificial intelligence fueled a blistering first half for the US stock market, and traders expect to see the same — and more — in the remainder of the year.
The S&P 500 Index has climbed 14% since the beginning of January, notching its second-best stretch of records to start a year this century, thanks to a resilient economy, improved corporate earnings and torrid demand for companies linked to AI. Even with signs of economic cooling, the rally is getting help from a Federal Reserve that’s considering when to trim rates after the most disruptive tightening campaign in decades.