U.S. — The S&P 500 returned approximately 9% during the first half of 2026, a period that concluded on June 30, 2026. In contrast, the Philadelphia Semiconductor Index returned 98.7% over the same timeframe. An investment of $10,000 in this index on January 2, 2026, the first trading day of the year, increased to $19,546.72 by June 30.

Individual semiconductor stocks also saw gains during this period. Micron stock gained 304% from the start of 2026 through June 30, becoming the fourth largest component of the Philadelphia Semiconductor Index on that date. AMD stock returned more than 170% during the same timeframe. Broadcom stock gained 9%, and Taiwan Semiconductor Manufacturing Company stock gained 59%.

Nvidia stock gained 7% from the start of 2026 through June 30, 2026. Nvidia was the world's largest company by market capitalization as of mid-2026. A basket of stocks including Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and Nvidia lost approximately 3% during the first half of 2026. A $10,000 investment in this specified Big Tech basket on January 2, 2026, decreased to just over $9,500 by June 30.

Outside of equities, Bitcoin lost more than 32% from the start of 2026 through June 30, following a loss of approximately 7% during 2025. Gold also experienced a decline during the first half of 2026, losing approximately 7.8%. The metal had increased in value by more than 60% during 2025 and exceeded $4,000 per troy ounce for the first time that year.