Wall Street wrapped up a roaring June and first half of the year as investors cheered the prospects of easier monetary policy from the Federal Reserve
rallied 7% this month, notching its best June performance since 1938, when it surged 24.3%. Caterpillar, Apple and Goldman Sachs drove the Dow's gains in June, rallying more than 11% each.posted its best first half of a year since 1997, soaring 17% and reaching an all-time high. All 11 of the S&P 500 sectors rose in the first half of the year, with tech rising more than 25% to lead the gains. Energy was the market's laggard in the first half, rising just 6.6%.
One subset of the technology space that shined this month was semiconductor stocks. The VanEck Vector Semiconductor ETF — one of the most widely followed ETFs for chip stocks — skyrocketed more than 12% in June, notching its biggest one-month gain since September 2010. Semiconductor stocks were coming off a 15.5% plunge in May, however, as trade tensions between China and the U.S. ratcheted up. Investors turn their eyes to the G-20 summit Osaka, Japan as Chinese President Xi Jinping and President Donald Trump are scheduled to meet and discuss trade.also surged more than 7% in June as the dollar dropped and the Fed opened the door for a potential rate cut in July.
Oil prices, meanwhile, got a boost amid rising tension between Iran and the U.S. Tensions between the two countries escalated after a U.S. drone was shot down earlier this month. Iran claimed the drone was flying over Iranian airspace, violating international law, while the U.S. disputed those claims.
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