Dow Industrials and Small Cap Outperform
U.S. equities posted mixed results last week along a rotational Big Tech AI to Value theme. Losses intensified later in the week following less-than-ideal earnings outlooks from a pair of AI-related firms. The data stirred broader concerns about heavy corporate capex spending in artificial intelligence. The Nasdaq Composite and S&P 500 both registered losses for the week, while the Dow Industrials remained positive, bolstered by the Fed’s mid-week interest-rate cut.
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