Many investors view the broadening trend as a healthy development in a market rally led by a cluster of giant tech names. — AFP
NEW YORK: A broadening rally in US stocks is offering an encouraging signal to investors worried about concentration in technology shares, as markets await key jobs data and the Federal Reserve's expected rate cuts in September.
As the market's fortunes keep rising and falling with big tech stocks such as Nvidia and Apple, investors are also putting money in less-loved value stocks and small caps, which are expected to benefit from lower interest rates. The Fed is expected to kick off a rate-cutting cycle at its monetary policy meeting on Sept. 17-18.
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