Wall Street Ends Strongest Quarter Since 2020 as Tech Rally Offsets Geopolitical Risks

U.S. stocks closed out the second quarter with the S&P 500 and Nasdaq posting their biggest quarterly gains since 2020, fueled by a powerful tech rally led by semiconductor stocks. The Dow Jones Industrial Average notched its best first half since 2021, rising 8.9%, while the S&P 500 gained 9.6% and the Nasdaq surged 12.8% in the first six months of 2026, shrugging off Middle East tensions and a June tech selloff. Separately, the SEC announced a public comment period for regulating novel ETFs, and Nike posted a 407% earnings surge on tariff refunds.

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S&P 500 and Nasdaq Post Best Quarter Since 2020 on Tech-Led Rally Major indexes advanced on June 30, with the S&P 500 rising 0.79% and the Nasdaq jumping 1.52%, capping a quarter where semiconductor stocks added roughly $2 trillion in market cap. The Dow closed at 52,186, up modestly, while the Russell 2000 surged nearly 22% in the first half—its best since 1991. A rebound in AI and chip stocks, supported by resumed US-Iran talks, helped markets overcome earlier June weakness. 1 2 3 4 5 6 7

SEC Seeks Public Comment on Regulating Novel ETFs Tied to Leverage and Crypto The U.S. Securities and Exchange Commission on June 30 called for feedback on regulating novel exchange-traded funds, including leveraged and event-linked products, as assets in U.S. ETFs have nearly tripled to $15.7 trillion since 2019. The move follows a wave of filings for leveraged single-stock and prediction-market ETFs, which the SEC says raise investor-protection concerns. 8

Nike Q4 Earnings Surge 407% on Expected Tariff Refunds, Sales Dip 1% Nike reported fiscal fourth-quarter net income of $1.1 billion, up sharply from $211 million a year ago, with a 52-cent per-share benefit from IEEPA tariff refunds. Revenue slipped 1% to $10.97 billion, slightly above expectations, as the sportswear giant navigates trade policy impacts. 9