Wolfe Research: Bullish on US stock market outlook, expects AI and semiconductors to drive the second-half rally.

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Golden Finance reported that on June 29, Wolfe Research maintained an optimistic stance on the U.S. stock market for the second half of 2026, believing that falling oil prices, steady corporate earnings growth, and sustained artificial intelligence investment will support further market upside, although geopolitical and monetary policy risks have not yet dissipated. The firm continues to favor the technology sector, particularly the semiconductor industry, and expects the market to gradually rise through the summer as lower energy costs ease consumer pressure. Wolfe Research believes that as long as retail fund inflows remain strong, any market pullback is likely to be brief, but escalating U.S.-Iran tensions or a deadlock in diplomatic negotiations remain key downside risks.
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