U.S. stocks posted their best quarter since 2020, with the S&P 500 rising nearly 15%, the Nasdaq Composite jumping more than 21%, and the Dow Jones Industrial Average increasing nearly 13%. The rally followed a bruising first quarter and was fueled by strong corporate earnings, particularly in tech, and easing oil prices as West Texas Intermediate crude fell more than 30% during the quarter to slightly above $70 per barrel. The Russell 2000 small-cap index marked its best first half since 1991, up about 21% on the year. SpaceX's $87.5 billion IPO, the largest ever, accounted for 92% of second-quarter listings, though overall deal activity was sluggish amid economic caution from the Iran war. Bitcoin slid 14% in the quarter, extending a decline from its October all-time high of $126,080.
Space Exploration Technologies Corp. Class A Common StockSpaceX's $87.5 billion IPO, the largest ever, accounted for 92% of second-quarter listings.