Wall Street was upbeat in June, with the S&P 500, the Dow Jones and the Nasdaq advancing 3.5%, 1.1% and 6%, respectively. The Russell 2000, however, saw a 1.1% dip. The S&P 500 topped the 5,500 level for the first time last week, after hitting the 5,400 mark earlier this month and 5,300 last month, indicating investors' confidence. Technology remained the best-performing sector in June.
NVIDIA and Amazon reached $3 trillion and $2 trillion market cap, respectively, in June. NVIDIA (which became the world's most valuable company briefly in the month), Apple (which also attained the height for a while) and Microsoft remained in the race to become the world's most valuable company.
In the last FOMC meeting early last month, U.S. policymakers penciled in just one rate cut for this year and indicated four cuts in 2025. Meanwhile, inflation data released throughout the month showed signs of easing.
The European Central Bank (ECB), too, cut its key interest rate, marking the first reduction since September 2019. This move took the rate down from its previous record of 4% to 3.75%, which has been maintained since September 2023.
Against this backdrop, below we highlight a few winning ...