According to Blockworks, the U.S. stock market performed strongly in the first half of 2024, especially stocks of AI companies. The S&P 500 and Nasdaq Composite Index rose 14.5% and 18.1%, respectively, and the Dow Jones Industrial Average also had a modest increase of about 4%. Among them, NVIDIA's stock increased by 150% in the first half of the year, accounting for more than one-third of the S&P's total return. Super Micro Computer Inc. became the highest-ranked stock in the S&P in the first half of the year, soaring 213%. However, as more investors shift from semiconductor stocks to software stocks such as Adobe and Salesforce, it remains to be seen whether AI companies can maintain their gains. On the other hand, the market's expectations of interest rate cuts in 2024 also affected investor sentiment. Although the Federal Reserve has kept interest rates stable for nearly a year, the market still holds out hope for the first interest rate cut in September.
