Wells FargoWFC.N climbed 2.8% after the bank's board authorized a new share buyback program of up to $30 billion. The NYSE FANG+ index .NYFANG, which houses many megacap growth names, has rallied 76.5% so far this year on optimism over AI and hopes that the Fed is nearing the end of its rate hiking cycle. "Beyond the July meeting, the path of policy is murkier as the substantial moderation in June's inflation print should give policymakers additional time to review incoming data," Henk Potts, a market strategist at Barclays Private Bank, said in a note.