After last week’s volatility, the latest breadth data suggests a rebalancing in market participation. The broader trend remains neutral, though a slight tilt toward weakness persists. Fewer new highs, soft advancing metrics, and lukewarm SMA participation continue to limit bullish momentum.
A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
Target shares plummeted 8% by Wednesday’s midday session after the company announced that CEO Brian Cornell will step down in February 2026 after 12 years at the helm.
Noted economist and chief economic adviser at Allianz, Mohamed El-Erian, has voiced his concerns about the Federal Reserve's approach to inflation, warning that it could be making a big "mistake."
