Analysis-US stocks leadership showing signs of broadening beyond tech

Group 1 - Investors are shifting focus from technology stocks to industrial, healthcare, and small-cap companies, anticipating a broader market rally [1][2] - The S&P 500 has increased over 90% since the bull market began more than three years ago, driven primarily by tech stocks like Nvidia, Alphabet, and Broadcom [1] - Since the end of October, industrial, healthcare, and small-cap stocks have outperformed the S&P 500, while the tech sector has seen a decline [2][5] Group 2 - There is optimism for a broadening of market leadership in 2026, with expectations of solid profits across various sectors [3] - The equal-weight version of the S&P 500 has risen over 5% since the end of October, outperforming the standard S&P 500, which has only increased by 1% [6] - Concerns over high tech valuations and the sustainability of AI investments have prompted investors to explore alternative sectors [2][5]