Market Rally Broadens Beyond Tech as Investors Bet on Soft Landing

• Rally broadening beyond mega-cap tech stocks that led markets in 2022; financials, industrials, energy also outperforming • Investors more confident Fed can tame inflation without recession, boosting economically-sensitive sectors • Leadership less concentrated in "Magnificent Seven" mega-cap tech names • Small caps and Russell 2000 still lagging broader market • If economic outlook sours, broadening trend could reverse