Stocks are headed for a winning week after the S&P 500 reached a fresh record on Tuesday, alongside the Nasdaq Composite. The stock market was closed Wednesday for the Juneteenth holiday.Microsoft to become the most valuable company in the world. Nvidia stock has climbed 174% in 2024, as the AI boom continues to boost equities.in June, and has cemented its place as the de facto market leader at the helm of the roaring AI theme on Wall Street.
" has a very 2000-2001'esque feel, but as we know the market can stay irrational longer than you can stay solvent," said Thomas Fitzpatrick, managing director at R.J. O'Brien and Associates."A day of reckoning will come but hard to stand in the way of a speeding train." Investors will also parse fresh economic data in the second half of the week, including initial jobless claims figures and housing starts data on Thursday morning.Wall Street is eyeing a collection of economic data beginning on Thursday to close out the second half of the trading week.
Initial jobless claims, housing starts and U.S. building permits are all due out at 8:30 am on Thursday, as well as the Philadelphia Federal Reserve's manufacturing survey.Stock futures were little changed on Wednesday, as investors look to end the shortened trading week higher following the S&P 500's latest record.
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