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Story summary
- Chip stocks powered the market’s strongest first-half gains since 2021.
- Both the Dow and Nasdaq posted gains, with the Dow up 8.9% and the Nasdaq over 12%.
- Nvidia, Advanced Micro Devices and Intel each recorded double-digit gains.
- Tim Holland, chief investment officer at Orion, said earnings and interest rates now drive market direction.
- He added that higher rates favor value and economically sensitive sectors over growth stocks.
