Hey there! Just a quick note to let you know that this edition of the Blockhead Business Bulletin is brought to you by our sponsor, Franklin Templeton. They're a global investment management organisation with over 75 years of investment experience. Being a California-based company, they offer value by leveraging its Silicon Valley roots and relationships with countless fintech, blockchain, and AI companies to bring insights directly to their clients. So, sit back, relax, and enjoy today's news knowing that it's made possible by our friends at Franklin Templeton.
CAPITAL FLOWS IN GLOBAL MARKETS
Positive momentum from a gain on Wall Street and hints of easing US inflation bolstered support for global markets on Monday as investors celebrated a successful quarter by sending stocks soaring and the dollar plunging at Friday's closing.
The three major US stock indices' weekly, monthly, and quarterly total returns rose.
The S&P 500 index jumped by 15.9% in the first half of 2023, while the tech-heavy Nasdaq Composite index surged 31.8%, its biggest return in four decades, riding the tsunami of investor optimism in artificial intelligence. The Nasdaq 100 index posted a record-breaking first-half gain of 38.8%.
As the trillion-dollar AI rally gathers pace, Apple's market value ends above US$3 trillion for the first time.