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Big Tech is driving the S&P rally. Others will have to step up.
Big Tech's sustained growth fuels the S&P rally since October 2022, but a weak earnings outlook for 2024 suggests that broader market participation is essential for continued upward momentum, according to market analysts.
Key points
- Big Tech has driven S&P growth since October 2022.
- Current earnings outlook for 2024 is uninspiring.
- Need for broader market engagement to sustain share price increases.
- Keith Lerner emphasizes the necessity for diverse market support for future returns.
Why it matters
- The rise of AI and technological advancements continuing to influence market trends.
- Historical reliance on sector performance impacting overall market health.
- Trends toward technological diversification among investors.
Sustaining the S&P rally will require not just Big Tech's influence but a collective effort from various sectors to ensure continued market growth beyond 2024.