Markets Shifting Focus Beyond Big Tech as Broad Growth Takes Hold
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Markets are facing many headlines/trends - March CPI, earnings reports, oil price swings, and lagging "Magnificent Seven" stocks.
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Magnificent Seven stocks powered markets but now showing weakness, allowing other sectors to gain strength.
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Broadening earnings growth outlook is supported by rising Global Manufacturing PMI indicator.
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PMI above 50 signals manufacturing growth and historically means rising earnings across sectors.
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Expect better earnings revisions in sectors like industrials, financials, materials, and energy that lagged last year.