Seeking Alpha: First Half Wrap: The AI Boom, Robust Earnings, Auto Sales On Tap

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Summary

As the first half wraps up, both US and foreign stocks are solidly positive amid AI euphoria.
In the stock market, despite many calls for a broadening out of the rally, the mega-cap AI theme reasserted its dominance following small caps’ surge over the back half of Q4 2023.
More than $250 of S&P 500 EPS is now the forecast over the next 12 months, with about $244 of current-year per-share operating profits and $277 of out-year EPS, according to FactSet.