Core Viewpoint - The recent rally in the U.S. stock market is broadening beyond just the technology giants, with more sectors and companies participating in the upward trend [1][3][4]. Group 1: Market Performance - The Invesco S&P 500 Equal Weight ETF rose by 2.7% in August, marking its longest consecutive monthly gain since May 2021, achieving four months of increases [1][5]. - The S&P 500 index increased by 1.9% in August, also achieving its longest consecutive monthly gain since September 2024 [7]. - The Roundhill MAGS ETF, which bundles the "Magnificent Seven" tech stocks, rose approximately 2% in August, achieving five consecutive months of gains, although at a slower pace [5]. Group 2: Economic Indicators - The U.S. economy shows resilience, with the Bureau of Economic Analysis reporting a second-quarter GDP annualized growth rate of 3.3%, exceeding many expectations [7]. - The strong employment market is identified as a core support for the overall economic resilience [7]. Group 3: Market Sentiment - Charles Schwab's Chief Investment Strategist, Liz Ann Sonders, noted that the participation rate among S&P 500 constituents is steadily increasing, indicating a less concentrated market rally [4]. - Northlight Asset Management's Chief Investment Officer, Chris Zaccarelli, expressed that despite September typically being a poor-performing month, there are no significant risks currently threatening the ongoing rally, suggesting potential buying opportunities if market volatility occurs [8].

Group 1 - The market is increasingly anticipating a rate cut by the Federal Reserve in September, leading to a broader rally in U.S. stocks beyond just the tech giants [1] - Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, noted that the participation rate in the S&P 500 is steadily rising, indicating a less concentrated market rally [2] - The Invesco S&P 500 Equal Weight ETF rose by 2.7% in August, marking its longest streak of consecutive monthly gains since May 2021 [2] - The Roundhill MAGS ETF, which bundles the "Magnificent Seven" tech stocks, increased by approximately 2% in August, achieving its longest consecutive monthly gain since March 2024 [2] - Despite a slight decline in major indices on Friday, the S&P 500 recorded its fourth consecutive month of gains, the longest streak since September 2024 [2] Group 2 - José Torres, Senior Economist at Interactive Brokers, indicated that investors appear to be taking profits, as September is typically the worst-performing month for U.S. stocks [3]