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Stocks posted their best first half in decades, defying skeptics and climbing over all walls of worry. The rally was primarily driven by mega-cap stocks that have benefited from optimism about artificial intelligence. Additionally, the economy, labor market, housing market, and American consumers proved to be far more resilient than experts believed earlier.
The Nasdaq surged almost 40%, its best first half since 1983, while the broader S&P 500 gained 16%, its best first half since 2019. Nvidia (NVDA - Free Report) jumped 190%, while Meta Platforms (META - Free Report) and Tesla (TSLA - Free Report) rose 139% and 113%, respectively.
Technology, Communication Services, and Consumer Discretionary were the best-performing sectors, while Utilities, Energy, and Financials were the worst. Bitcoin surged more than 80%, benefiting miners and blockchain companies, and related ETFs.
Semiconductor ETFs like the VanEck Semiconductor ETF (SMH - Free Report) and the iShares Semiconductor ETF (SOXX - Free Report) were among the best-performing areas. ETFs focused on carbon offset, natural gas, cannabis, and regional banks were among the worst areas.
To learn more, please watch the short video above.
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Best & Worst ETF Areas of First Half 2023
Stocks posted their best first half in decades, defying skeptics and climbing over all walls of worry. The rally was primarily driven by mega-cap stocks that have benefited from optimism about artificial intelligence. Additionally, the economy, labor market, housing market, and American consumers proved to be far more resilient than experts believed earlier.
The Nasdaq surged almost 40%, its best first half since 1983, while the broader S&P 500 gained 16%, its best first half since 2019. Nvidia (NVDA - Free Report) jumped 190%, while Meta Platforms (META - Free Report) and Tesla (TSLA - Free Report) rose 139% and 113%, respectively.
Technology, Communication Services, and Consumer Discretionary were the best-performing sectors, while Utilities, Energy, and Financials were the worst. Bitcoin surged more than 80%, benefiting miners and blockchain companies, and related ETFs.
Semiconductor ETFs like the VanEck Semiconductor ETF (SMH - Free Report) and the iShares Semiconductor ETF (SOXX - Free Report) were among the best-performing areas. ETFs focused on carbon offset, natural gas, cannabis, and regional banks were among the worst areas.
To learn more, please watch the short video above.