finance
Major U.S. stock indexes post strongest quarter since 2020
The Dow Jones Industrial Average, S&P 500 and Nasdaq each recorded gains on the final trading day of the second quarter. The indexes finished the period with their largest advances since the pandemic.
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U.S. stock indexes closed higher Tuesday, completing their strongest quarter in years. The Dow Jones Industrial Average rose 0.3 percent to finish at 52,319.20, while the S&P 500 gained 0.8 percent and the Nasdaq climbed 1.5 percent. Chipmaker shares led the advance.
Nvidia rose 2.6 percent, Advanced Micro Devices gained 7.7 percent and Intel increased 6 percent. The VanEck Semiconductor ETF added more than 3 percent.
Six-month performance The Dow posted its best first-half gain since 2021 with an 8.9 percent advance. The S&P 500 rose 9.6 percent and the Nasdaq gained 12 percent over the same period. The Russell 2000 small-cap index climbed more than 21 percent, its largest six-month increase since 1991.
The second quarter produced even larger moves. The S&P 500 jumped 14.9 percent and the Nasdaq rose 21.4 percent, their biggest quarterly gains since the second quarter of 2020. The Dow added 12.9 percent for its strongest quarter since late 2022.
Factors cited by market participants Traders pointed to oil-price movements tied to developments in Iran and shifting views on artificial-intelligence valuations. A chief executive of SMI Group said third-quarter trading would be shaped by the Iran conflict, November election expectations, SpaceX performance and prospects for an Anthropic initial public offering.
A chief executive of Mahoney Asset Management said a bull market is likely but added that investors should prepare for volatility. The same executive noted that third quarters in midterm election years have historically been weak and that markets may focus on election outcomes by September.
Investors are also watching the Federal Reserve and its new chairman for signals on interest-rate policy after a June 17 speech that markets absorbed without major disruption.
