S&P 500 Posts Its Best Quarter in Six Years on June 30 as Dow Hits Second Consecutive Record Close at 52,319
Wall Street Journal reports that US markets closed higher on June 30 to cap the best quarter for the S&P 500 and Nasdaq in six years, with the Dow Jones Industrial Average gaining 136 points or 0.26% to close at a second consecutive record high of 52,319.20, while the Nasdaq Composite surged 1.52% to 26,213.72 and the S&P 500 rose 0.79% to 7,449.36.
Tech Stocks Led the Rally on the Final Day of Q2 as Full-Year Gains Reach 12.79% for the Nasdaq and 9.55% for the S&P 500
Technology shares drove the session’s gains, with the Russell 2000 also advancing 0.46% to 3,024.37; a fresh milestone for the small-cap index. For the year, the Nasdaq is up 12.79% and the S&P 500 is up 9.55%, while the Dow has added 8.85%. The quarter marks what will likely be the best three months for the S&P 500 and Nasdaq in six years, and the Dow’s strongest quarter since 2022, despite significant market volatility driven by the US-Iran conflict in February and a tech sector pullback in mid-June.
Market Breadth Improved Significantly With 64% of S&P 500 Stocks Above Their 50-Day Moving Average as the AI-Driven Boom Broadens Beyond Mega-Cap Tech
An improving breadth reading underpinned the quarter-end rally, with 64% of S&P 500 stocks trading above their 50-day moving average as of Monday, up from just 50% a month prior; a sign that gains are broadening beyond the Magnificent Seven. SpaceX’s inclusion in the Nasdaq-100, effective July 7, and Alphabet’s addition to the Dow Jones Industrial Average added fresh catalysts to close out what has been a historic first half for US equities.
Despite a war, a tech sector correction, and a Federal Reserve on hold, American stocks just delivered one of their strongest quarters in years. The market is telling you something.
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