Stocks Are Limping Into November. A Santa Rally Would Be a True Gift
Is there any way to still get a holiday gift?There are signs investors are rotating cash within the market, which could suggest that the AI investment boom is lifting sectors outside of tech.In fact, nine of the S&P 500's 11 sectors booked gains in October, led by energy, utilities, and healthcare. That has helped an equal-weighted version of the index climb more than 5%, taking its gains this year to more than 14%.Tech, though, is staggering. The S&P 500s's sector index is down 6.8% since the end of May, the PHLX Semiconductor Index has fallen 27% from its late June peak, and only two of the Magnificent Seven -- Apple and Microsoft -- have gains over the past two months.For Edward Jones' Angelo Kourkafas, rotation is a good thing. That and solid economic growth and strong financials from some unlikely players."We believe this rotation, which is helping offset s