26.06.202518:36:13UTC+00S&P 500, Nasdaq 100 Rally to New Highs

On Thursday, U.S. stocks experienced a notable surge, with both the S&P 500 and the Nasdaq 100 reaching record highs. This upward trajectory was largely fueled by reduced geopolitical tensions, robust performance in the tech sector, and increasing optimism regarding potential interest rate cuts. The S&P 500 increased by 0.8%, the Nasdaq rose by 1%, and the Dow Jones Industrial Average climbed by 390 points. Investor confidence was bolstered after the White House de-emphasized looming tariff deadlines, alleviating fears of an impending trade war. Additionally, speculation about President Trump potentially appointing a new Federal Reserve Chair sooner than anticipated raised expectations for a shift toward more accommodative monetary policy. Concurrently, new economic reports indicated that the U.S. economy contracted more than forecasted in the first quarter, shrinking at an annualized rate of 0.5%, and the trade deficit unexpectedly expanded due to decreased export activity. In the tech sector, companies like Nvidia and Meta saw substantial gains, maintaining their positive momentum, while Apple diverged from the trend, declining by 0.4% following a price target reduction by JPMorgan Chase.