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US indices set new highs as investors rotate within equities
US markets reached record levels post-Fed cut, with investors rotating across sectors amid valuation concerns and mixed technology earnings signals.
Wall Street benchmarks touched record highs after the Federal Reserve’s rate cut, though leadership within equities shifted. The S&P 500 and Dow Jones gained as investors trimmed exposure to select technology stocks following Oracle’s weaker earnings and concerns around long term AI returns. Analysts cite scope for a seasonal year-end rally but warn that stretched valuations, political uncertainty, and potential Fed leadership changes could influence sentiment.