Wall Street's main indexes traded mixed to higher on Tuesday, June 30, as investors balanced a rebound in artificial intelligence stocks, resilient economic data and lingering concerns over interest rates and geopolitical tensions. According to The Economic Times, the S&P 500 gained 55.97 points (0.75%) to end at 7,498.38, while the Nasdaq Composite surged 374.62 points (1.45%) to 26,194.76. The Dow Jones Industrial Average rose 116.17 points (0.22%) to 52,298.91. The Dow Jones ended Tuesday's session with gains of close to 150 points, while the S&P 500 and Nasdaq gained 0.8% and 1.5% respectively, as buying continued in chip stocks after the Philadelphia Semiconductor index reported its worst week since April 2025. Despite Tuesday's gains, the S&P 500 and Nasdaq remained on course to end June with their first monthly declines after two strong months, reflecting recent weakness in heavyweight technology shares. However, as per The Economic Times, both indexes were still set for their best quarterly performance in six years, while the Dow was heading for its strongest quarter since 2022.
Investor sentiment remained robust despite ongoing Middle East tensions, with optimism over potential progress in resolving the Iran conflict. According to The Economic Times, Iran and the U.S. on June 17 signed a memorandum of understanding aimed at ending the four-month-old conflict. However, exchanges of fire over the weekend have tested that agreement, and a Qatari official said on Tuesday that top U.S. envoys who have arrived in Doha will not hold a high-level meeting with Iran. Oil prices eased after two U.S. envoys arrived in Qatar for talks with mediators about the implementation of an initial deal to end the war in Iran. The price for a barrel of Brent crude oil, the international standard, erased an early, modest rise and fell 1.3% to $72.95. The hope is that an end to the war will restore full access to the Strait of Hormuz, allowing oil tankers to move more crude and lower its price. Expensive oil has already sent inflation jumping around the world, which in turn has raised worries that the Federal Reserve and other central banks may have to raise interest rates.
The mixed trading comes as Wall Street concludes a quarter that delivered exceptional returns to investors. As reported by CNBC TV18, for the first six months of 2026, the Dow Jones ended with gains of close to 9%, marking its best performance in the first half of a calendar year since 2021. The S&P 500 and Nasdaq gained 9.6% and 12.8% respectively during the same period. The S&P 500 and Nasdaq reported their best quarterly performance since 2020. The Russell 2000 has surged more than 22%, positioning it for its best first-half return since 1991, outperforming its larger benchmark peers. The strong quarterly performance has set a positive tone for the broader market momentum, with the current mixed closing suggesting investors are taking a cautious approach on the final session of this exceptional quarter. With one day left in the second quarter, the benchmark S&P 500 is on track for its best quarterly performance since a recovery from a pandemic-era downturn six years ago. For the month, the S&P 500 fell 1.1%, the Dow rose 2.5%, and the Nasdaq declined 2.8%, according to The Economic Times.
Artificial intelligence stocks, which have driven much of Wall Street's rally over the past year, steadied after recent heavy selling. According to The Times of India, Nvidia rose around 1%, providing one of the biggest boosts to the S&P 500. Recent declines in semiconductor and AI-related stocks have raised concerns that valuations had become stretched after the sector's rapid rally. However, Brian Levitt, chief global market strategist at Invesco, said the weakness could prove temporary. "Technology has been experiencing a period of June gloom, but that could easily reverse as earnings season approaches," Levitt said, according to Reuters. David Morrison, senior market analyst at Trade Nation, remained optimistic about the broader market. "Investors can't see an end in sight to this bull run. Whenever there's a bit of a sell-off, we seem to be in a situation where you get a fresh impetus to buy," he told Reuters. A tracker of semiconductor stocks jumped by roughly 3.8%, following its worst week since last April, when equities were reeling from the announcement of sweeping U.S. tariffs. The Philadelphia Stock Exchange Semiconductor Index jumped 3.9%, cementing its best quarter ever, as reported by NDTV.
The economy seems to be rumbling along, even though U.S. households are still feeling sour about it. A report released in the morning said that U.S. employers were advertising many more job openings at the end of May than economists expected, the latest signal that the job market remains resilient while a second report said that confidence among U.S. consumers improved by less than economists expected. More Americans are saying its hard to get a job, according to a survey by the Conference Board, even with data suggesting continued hiring. In stock markets abroad, indexes rose across much of Europe and Asia. Germany's DAX returned 1.5%, and South Korea's Kospi climbed 1% for two of the worlds bigger gains. Japan's Nikkei 225 rose 0.9% as the value of the Japanese yen dropped near its lowest level against the U.S. dollar in 40 years. The yield on the 10-year Treasury rose to 4.44% from 4.38% late Monday, with U.S. government bonds paying much higher yields than their Japanese counterparts and the possibility of rate hikes by the Fed putting more pressure on the yen.
