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StonvexStonvexStonvexThe S&P 500 reached a record high of 7,581 in May despite 8 of 11 sectors declining, with gains concentrated in AI-related technology stocks. Dell surged 30% on the back of $16.1B in quarterly AI server sales, while broader market breadth concerns persist as only mega-cap tech and semiconductor stocks drive the rally.
The S&P 500 reached a record high of 7,581 in May despite 8 of 11 sectors finishing lower, driven by narrow leadership in AI-related technology stocks. Dell surged 30% on $16.1B in quarterly AI server sales, while oil prices fell 19% on a 60-day Iran ceasefire. The market rally is concentrated in mega-cap tech and semiconductors, raising concerns about breadth and sustainability.
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