Bulls Take Control Amid New AI Spending & Expanding Breadth

Market Overview - The market breadth has expanded significantly from recent lows, indicating a bullish sign for the S&P 500 [2] - Record-high short positions have been established, setting the stage for a potential short squeeze as stocks, particularly in the tech sector, have rallied sharply [3][5] Economic Indicators - Trucking spot rates have increased by $0.61 per mile over the past four months, which is atypical for February, suggesting a strong underlying economy [7] - AI-related capital expenditures (CAPEX) are projected to rise to $515 billion in 2026, up from $390 billion in 2025, indicating a significant investment trend in the technology sector [9] Company Performance - Several AI infrastructure stocks have experienced substantial turnover and price increases, reflecting the growing impact of AI CAPEX spending [14] - Nebius Group is expected to see its annual revenues increase nearly fivefold by 2026, with Zacks Consensus Estimates indicating a year-over-year growth of 512.64% for the current quarter [15]