
Investors directed funds into other sectors rather than pulling them out of equities altogether.
The S&P 500’s rally in the first half of this year was concentrated in AI and energy.
Crude oil dropped below $75 per barrel on June 18, helping ease fears of rising inflation.
The Federal Reserve will hold its first policy meeting under new Chair Kevin Warsh next week.
The Nasdaq Composite sank by more than 1,000 points on Friday, pushing the week down 4.68 percent.
Lower bond yields and strong tech earnings drove further gains.
Both Target and Walmart reported strong quarterly results but offered a cloudy outlook.
The rallies come despite elevated bond yields and signs of an economic slowdown.
The 30-year Treasury bond yield rose above the key 5 percent level on May 15.
The company recently revealed a new end-to-end organization, aiming to build low-priced electric vehicles.