Market Breadth and Sector Rotation Beyond Tech

Hedge funds poured $4.8B into U.S. equities, rotating from tech/AI into financials. Energy stocks broke down while gold rallied. Top-performing subsectors YTD include AI-driven chips, oil, and steel (tariff-driven). Healthcare stocks continue to gain traction with strong inflows and M&A. Midterm elections add a policy angle. Small caps outperforming in July review.