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last mo.

U.S. Stocks Close Quarter on Tech-Led Rally

The advance was driven by investor bets on artificial intelligence and steady economic data, with higher long-term rates and Middle East tensions keeping markets cautious.

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Overview

  • Major U.S. indexes finished the quarter with strong gains driven by technology, as the Nasdaq rose about 21% and the S&P 500 and Dow climbed roughly 15% and 13%, respectively.
  • A small group of mega-cap tech firms provided much of the upside, with Apple, Tesla and Alphabet among the largest contributors to the late-quarter momentum.
  • Chipmakers and data-center related stocks posted outsized second-quarter returns, with some firms reporting double- and triple-digit jumps that concentrated returns within the sector.
  • Despite the rally, investors remain alert to rising long-term interest rates and geopolitical risk in the Middle East, which analysts say could prompt volatility or profit-taking.
  • The gains give U.S. benchmarks their best quarter in years and a notably strong first half, a sign that markets are pricing sustained tech-led earnings growth even as some AI trades have cooled after recent corrections.