The S&P 500 and Nasdaq continued their upward trajectory, hitting new record highs. On the last trading day of June, the S&P 500 closed up 31 points or 0.5% at 6,204 points, while the Nasdaq rose 96 points or 0.5% to finish at 20,369 points. The Dow Jones also saw gains, closing 275 points or 0.6% higher at 44,094 points. Throughout June, major U.S. stock indices surged to historical peaks, with the S&P 500 up nearly 5%, the Nasdaq more than 6%, and the Dow over 4%. For the second quarter, the S&P 500 rose over 10%, the Nasdaq nearly 18%, and the Dow almost 5%.
Tech giants fueled the rally, with Meta (META, Financial) leading the "Magnificent Seven" by reaching a historical high of $747.9. Microsoft (MSFT) and Nvidia (NVDA) also hit new highs, while Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), and Tesla (TSLA) remain below their previous peaks. Large Wall Street banks passed the Federal Reserve's stress tests, boosting most bank stocks; Goldman Sachs (GS) climbed 2.5%, and JPMorgan (JPM) rose 1%. Additionally, Oracle (ORCL) secured a $30 billion annual cloud service deal, closing 4% higher.
