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Big Tech stocks led US stock gains in the first half of 2023, fueled by an explosion of interest in AI.
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But the rally is now broadening out to other sectors – June was the best month this year for the S&P 500 index.
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A gauge of US stock-market breadth just hit the highest level since February.
For most of 2023, the dominant story for equity investors has been the rise of artificial intelligence – which helped fuel a stunning surge in “Magnificent Seven” Big Tech stocks including Apple, Microsoft and Nvidia.
But there are signs the rally is now broadening out to other sectors.
June was the benchmark S&P 500 index’s best month since October, with a 6.5% gain that was close on the heels of the FANG+ group of New York Stock Exchange-listed Big Tech…
