US Market Rally Broadens as Investors Seek Winners Beyond Tech Giants
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The US stock market rally is showing signs of broadening as investors shift their focus beyond the mega-cap tech stocks that have been driving gains. A more reassuring economic outlook and dovish signals from the Federal Reserve have prompted investors to seek winners in sectors such as financials, industrials, and energy, which are outperforming the S&P 500's year-to-date gain of 9.7%. This broader rally indicates that market leadership is becoming less concentrated and less susceptible to a correction.
The Magnificent Seven tech stocks, including Nvidia and Meta Platforms (formerly Facebook), have been responsible for a significant portion of the S&P 500's gain so far this year. However, the rally in other sectors such as financials, industrials, and energy is reducing the dominance of ...
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