Market Update: Magnificent 7(ish), AI, and Broadening of the Market Rally...
As we turned the page to 2024, the markets needed a new catalyst to keep the uptrend going. And sure enough, we got one: the rise of Artificial Intelligence (AI). As the baton was passed from the market's reliance on both lower interest rates and lower inflation to AI, stocks began to rally around the incredible enthusiasm for this new technology and what it could mean for corporate profits.