Pop the champagne: On Friday, U.S. stocks ended in the green for the day, week, quarter and first half of the year.
that Goldman and Apple have renewed their partnership through 2029. That's an abrupt reversal of the partnership, and perhaps a sign that Goldman is looking to pull out of the consumer banking sector.The stock market's astounding rebound in the first half of the year was mostly driven by seven Big Tech stocks — collectively, they accounted for 80% of the gains in the S&P 500, according to UBS.
Yet let's not discount the Nasdaq's incredible rally. This year has, in some ways, been a steeper hill to climb for stocks than the last. Sure, inflation's been edging down. May's PCE price index showed all the right numbers moving in the right direction . But interest rates are the highest they've been in 16 years — and have shot up to those levels in a mere 10 months. Those rates have already broken three regional banks back in March, and one in May. Nonetheless, technology stocks — typically the most sensitive to the cost of borrowing — are still going strong. Indeed,
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