Stocks Cap Strongest Quarter in Six Years on AI Momentum and Economic Strength – US Market Wrap
US stocks ended their strongest quarter in six years on a positive note, with semiconductor shares extending their rally from the war-driven lows and fresh economic data reinforcing confidence in the outlook for corporate earnings.
The rally, which added more than $8 trillion to the S&P 500’s market value over the past three months, continued as reports pointed to resilience in both the labor market and consumer sentiment. Technology stocks led the advance, with the Nasdaq 100 rising 1.7%, while a semiconductor index completed its strongest quarter on record. Treasuries declined, and oil prices fell on optimism that a permanent agreement to end the Iran conflict is moving closer.
The latest economic data continued to highlight underlying strength in the US economy. Although higher prices during the Middle East conflict have weighed on consumer confidence and reduced real wage growth, demand for workers has remained firm and consumer spending has continued to support economic activity.
