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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid sustained momentum in U.S. markets despite headwinds, the Nasdaq is on track to gain 20% in the current quarter, according to the Wall Street Journal. Meanwhile, the S&P 500 is set to record its best quarterly performance since 2020. The rally comes against a backdrop of geopolitical tensions and lingering concerns over artificial intelligence.
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Sign InThe gains are supported by encouraging U.S. economic data: the Services PMI rose to 51.3 and the Composite PMI hit 52.2 in late June, signaling expansion. Personal spending increased 0.7% month-over-month on June 25, beating forecasts. However, durable goods orders fell 4.5%, highlighting sector divergence.
Investors are now eyeing the Federal Reserve's bank stress test results released on June 24, along with the central bank's policy outlook. Markets are also awaiting the start of Q2 earnings season in July, which could set the tone for the major indices heading into the second half of the year.