Economic Optimism Drives Market Gains as Investors Seek Growth Beyond Tech Giants

Investors are broadening their investments to include a wider range of stocks beyond big tech as the U.S. economy strengthens, driving gains across the market and pushing the equal-weighted S&P 500 to a record peak. This shift from dependence on tech giants such as Apple and Tesla is attributed to the belief that the economy has survived the worst of the interest rate increases and is poised for wide-ranging asset growth. There is increased interest in other sectors, such as industrials and financial services, as well as smaller companies, especially those with a domestic focus like the Russell 2000 constituents.