Part 2/14:
One of the most striking developments has been the diversification of market leadership. From previously narrow rallies dominated by a handful of tech giants, the ascent now encompasses banks, transports, utilities, and various sectors including small caps and mid caps. This breadth suggests underlying strength rather than mere speculation. Nonetheless, skepticism persists, especially around sectors like data centers, which some believe may be reaching their peak. Yet, equities continue to press higher on good news and rumor-driven optimism, such as Meta's potential cloud computing deals with Oracle.