The second half of the year is under way, and investor Andrew Graham thinks technology stocks will continue to lead the market higher. The S & P 500 has climbed 15% in 2024 to record highs, propelled by the artificial intelligence trade. Year to date, graphics processing unit manufacturer Nvidia has soared a whopping 148%. Investors have debated whether technology stocks can sustain their lofty gains, or if the market rally is due to broaden.
Shares of the renewable energy company have climbed 16% this year. "You can see it showing up now in all the fiscal spending that's gone on, from the CHIPS act to the Inflation Reduction Act, all that spending is pointing to the reindustrialization of the U.S., and that all requires greater amounts of power demand," he said.
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