Semiconductor stocks rebounded Monday, pulling S&P 500 and Nasdaq futures higher to open the week. The S&P 500 finished its best weekly performance in two months with a 1.7% gain, capping what sources describe as the index's strongest quarter in six years — despite a 1.0% slip in June and the index still sitting 1.7% below its record closing high from June 2. Year-to-date, the S&P 500 is up 9.3%.
A semiconductor-led bounce is significant because chip stocks — particularly the largest names — carry enormous weight in both the S&P 500 and Nasdaq, meaning their moves amplify or drag the broader market. The quarter's strong performance suggests institutional buyers have been accumulating through volatility, but the index remaining below its record high means the rally hasn't fully reclaimed lost ground. Investors holding broad market ETFs or tech-heavy positions are benefiting, but the June pullback is a reminder the move hasn't been linear.
Watch for upcoming US jobs report (typically first Friday of the month). Next Federal Reserve meeting minutes release and any scheduled Fed speaker appearances. Q2 earnings season kicks off in mid-July with major banks reporting first.
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