Can The Global Equities Sustain The Bull Run In The Second Half Of 2024?
Dalal Street Investment Journal|June 03, 2024
After four weeks of gains, the markets paused in the past fortnight, despite outstanding earnings from the Al leader NVIDIA. For the year, the S&P 500 remains up by about 10 per cent, and we view some consolidation after the recent strong performance.
Can The Global Equities Sustain The Bull Run In The Second Half Of 2024?

Most of the frontline U.S equity indices showed mixed performance over the past fortnight. The Dow Jones Industrial Average suffered its largest weekly loss (-2.33 per cent) since early April, on the other hand, the tech-heavy Nasdaq Composite continued to set new records. The broad S&P 500 Index was mostly flat, while small-cap stocks declined.

A key driver for the market's divergence was the rise in NVIDIA's shares. The AI chipmaker, now the third-largest company in the S&P 500 by market capitalisation (behind only Apple and Microsoft), saw its shares surge 9.3 per cent on Thursday after exceeding consensus estimates, adding approximately USD 220 billion to its market capitalisation.

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