Nasdaq Set For Best First Half In Its 52-Year History Amid AI-Fueled ‘Market Euphoria’

The Nasdaq Composite is on the brink of posting its strongest start to the year ever, as the flagship tech index shakes off a dreadful 2022 on the back of newfound excitement for the sector—a surge fueled partly by the rise of artificial intelligence.The Nasdaq has gained 30% year-to-date, outperforming the S&P 500’s 14% bounce and Dow Jones Industrial Average’s 2% gain.

With two days left, the Nasdaq is on track for by far its best January 1 to June 30 return since its inception in 1971, easily topping the prior record holder, 2019, when it gained 25.2%. This year’s hot start comes after the index crashed 30% during the first half of 2022—its biggest first-half loss since 1974—as investors piled out of rate-sensitive tech stocks as the Federal Reserve began hiking interest rates.

Arguably the biggest factor behind the Nasdaq’s recent rally is Wall Street’s grand vision about what generative artificial intelligence could mean for sales growth for tech’s biggest names; chipmaker Nvidia and AI-exposed stalwarts Alphabet and Microsoft have each gained hundreds of billions in market value this year.

Source: News Formal (newsformal.com)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nasdaq Set For Best First Half In Its 52-Year History Amid AI-Fueled ‘Market Euphoria’The Nasdaq Composite is on the brink of posting its strongest start to the year ever, as the flagship tech index shakes off a dreadful 2022 on the back of newfound excitement for the sector—a surge fueled partly by the rise of artificial intelligence.
Source: Forbes - 🏆 394. / 53 Read more »

Stock Market Today: Nasdaq futures lead reboundMarketWatch Live: Nasdaq leads premarket bounce-back in U.S. stocks
Source: MarketWatch - 🏆 3. / 97 Read more »

Analysts love these Nasdaq stocks as benchmark wraps up best first half since 1983The tech-heavy index has soared nearly 29% this year, and is currently on pace for its best first half since 1983.
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500, Nasdaq futures down as chip stocks fall, focus on Powell By Reuters⚠️BREAKING: *U.S. STOCK FUTURES FALL AS NVIDIA, AMD SLIDE; FOCUS ON POWELL SPEECH $DIA $SPY $QQQ 🇺🇸🇺🇸
Source: Investingcom - 🏆 450. / 53 Read more »

Nasdaq slides after big gain as Nvidia shares decline: Live updatesInvestors are coming off a positive session for the major averages, with tech stocks driving the gains.
Source: CNBC - 🏆 12. / 72 Read more »

GEN Restaurant stock cheered in Nasdaq debut, after upsized IPO priced at top of rangeShares of GEN Restaurant Group Inc. fired out of the gate Wednesday, as the GEN Korean BBQ restaurant chain’s stock opened more than 50% above the initial...
Source: MarketWatch - 🏆 3. / 97 Read more »