Post #15804

S&P 500 Reclaims Highs as Market Rotation Broadens The S&P 500 has fully recovered from the recent ~4% pullback and is now trading just below the $7,000 handle. Moves typically slow as markets wait for fresh catalysts. Futures are flat as investors balance softer retail sales — signaling a more fragile consumer — against ongoing AI capex optimism. The weak spending data pulled yields lower and increased bets on multiple Fed cuts this year. CPI and jobs data later this week will be key for direction. Under the surface, leadership is rotating. The index is benefiting from flows broadening beyond mega-cap tech, with equal-weight exposure strengthening — a healthier market structure. AI names remain supported (Nvidia bid on strong TSMC data), while some consumer-linked names are under pressure. The S&P is holding up, but macro data will decide whether this rotation turns into sustained upside or stalls near highs. - Alan