The article discusses the performance of US stocks in the week ending June 30, 2023. The S&P 500 and Nasdaq Composite indices rose, with the S&P 500 gaining 0.5% and the Nasdaq adding 0.3%. However, the AI trade stumbled, with the Nasdaq Goldman Sachs AI Index falling 3.6%. The article highlights that AI stocks have been a major driver of the market’s gains this year, but investors took profits ahead of the second-quarter earnings season. Despite the AI trade’s struggles, the broader market remained resilient, supported by optimism about the Federal Reserve’s potential pause in interest rate hikes. The article also mentions that Tesla’s stock rose after the company reported record quarterly vehicle production and deliveries. Overall, the market’s performance reflected a balance between the AI trade’s volatility and broader economic factors.