Bank and Technology Stocks Close the Quarter Strong

Stock futures in the technology and banking sectors are having a strong run in the lead up to the end of the second quarter and first half of the year.

The Dow Jones Industrial Average futures are up by 150 points, or 0.45%. S&P 500 futures have gained 0.4%, while Nasdaq-100 futures have jumped 0.4%.

In the premarket, bank stocks received a boost after the country's largest lenders passed the Federal Reserve's annual stress test. JPMorgan Chase, Wells Fargo, and Bank of America were all up by 1% in premarket trading. Chipmakers like Micron Technology and Nvidia were also up 1%.

Overall, the stock market has shown strong performance in the first half of 2023. The S&P 500 is up by 14% this year, while the tech-heavy Nasdaq Composite has climbed nearly 30%, heading toward its best first half since 1983. The blue-chip Dow has only gained 2% this year, making it the underperformer.

With just a couple of trading days away from the end of the month, quarter, and first half of the year, the S&P 500 has seen a 4.7% June increase, making it the best month since January.

Analysts feel that for equities to continue rising, factors such as the Federal Reserve's actions, economic data, and the success of the artificial intelligence story all need to align. Traders will also be paying attention to the weekly jobless claims data released tomorrow.