Investors are expanding their investing horizon beyond big technology companies and operating in a positive mindset this afternoon. Small caps are rallying and showing optimism is increasing, as investment begins to shift towards different segments in the market.  

Losses in mega-cap stocks such as Microsoft (MSFT) and Nvidia (NVDA) are sending the Nasdaq lower today, but it hasn’t stopped the broader market.

Nine sectors are moving higher with Consumer Discretionary (XLY) leading the way. On the flip side, Communication Services (XLC) is the laggard.

Today’s 30-year bond auction was weak with the US selling $22 billion in 30-year bonds at a high yield of 4.889%, unchanged vs. the 4.890% when issued.