Stocks Hit New Highs as Money Rotates Into Lagging Sectors
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S&P 500 hit a fresh record high, while money moved into some lagging sectors like utilities and real estate
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Russell 2000 small cap index had a strong day, hitting its highest level in over a year
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Decline in interest rate volatility suggests markets less worried about uncertainty around Fed policy
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Small caps and biotech seem well-positioned if economy strengthens more than expected
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Shift away from "crowded trades" in big tech shows investors searching for new opportunities