The rally today is pretty much across the board with stocks putting together a much-needed rebound session. Technology (XLK) is garnering some strong-buy-the-dip interest after a major retreat in previous sessions.

Nvidia (NVDA) is the best performing stock in the Magnificent Seven group after its CEO said demand for Nvidia’s (NVDA) AI products with Amazon Web Services is extremely strong. On the other hand, Amazon (AMZN) is sharply lower after earnings miss and a $200 billion capital expenditure forecast.

Outside the big names, we are seeing strong rotation out of Mag Seven names with the S&P 500 Equal Weight (RSP) reaching new highs.

Economic Data

February Consumer Sentiment rose in February to 57.3 from 56.4 as inflation fears appeared to ease.

• Current Conditions up to 58.3 from 55.4 prior
• Expectations down to 56.6 from 57.0 prior

The biggest news of the report is inflation expectations' plunging.