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US equities touch new highs as investors rebalance portfolios
US stock markets closed at record highs as earnings growth and sector rotation offset weakness in technology stocks and sustained overall investor confidence.
Wall Street closed at record levels amid a mixed trading session as investors rotated out of select technology stocks into value oriented sectors. The S&P 500 and Dow Jones Industrial Average hit fresh highs on December 11, even as the Nasdaq slipped due to pressure on AI-linked names. Market breadth remained healthy, supported by strong earnings fundamentals. Aggregate S&P 500 earnings growth stood at 13.4 percent, while revenue growth reached 8.4 percent, marking the strongest expansion since the third quarter of 2022.