As evidenced by the recent earnings season, the banking sector has shown noteworthy resilience with institutions like JPMorgan, Bank of America, and Morgan Stanley all exceeding expectations, which in turn has provided impetus for the market rally.
With increasing rate cuts being anticipated since July 10th, the performance of the S&P 500 sector shows a stark contrast: while utilities and real estate rally substantially, the technology sector remains the only one in decline, highlighting a significant shift in investor focus.
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