Pop the champagne: On Friday, U.S. stocks ended in the green for the day, week, quarter and first half of the year.
, head of the country's foreign exchange regulator, as its new party secretary — a role that typically has the most sway in China's institutions.The stock market's astounding rebound in the first half of the year was mostly driven by seven Big Tech stocks — collectively, they accounted for 80% of the gains in the S&P 500, according to UBS. But analysts are optimistic the rally couldFriday marked the end of the first half of the year and, boy, what a six months it's been.
Yet let's not discount the Nasdaq's incredible rally. This year has, in some ways, been a steeper hill to climb for stocks than the last. Sure, inflation's been edging down. May's PCE price index showed all the right numbers moving in the right direction . But interest rates are the highest they've been in 16 years — and have shot up to those levels in a mere 10 months. Those rates have already broken three regional banks back in March, and one in May. Nonetheless, technology stocks — typically the most sensitive to the cost of borrowing — are still going strong. Indeed,
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