Technology (XLK) led the way yesterday, but what looked like an all-around party at the open became more selective as the session wore on, with barely 50% of the S&P 500 (SPX) finishing higher. Meanwhile, growth and momentum dominated among the factors.

As artificial intelligence (AI) impacts more industries, its influence over the entire market also expands.

But this is all happening without “Mag Seven.”

Spacey

Party on, party people, let me hear some noise

DC's in the house, jump, jump, rejoice

Says there's a party over here, a party over there

-Tag Team

That was a heck of a second day of trading for SpaceX (SPCX).  It's really exciting stuff and portends a potential love affair with investors that lasts for years.

There will be near-term challenges (see key dates below), but right now, the people are partying.

Today’s Session

A few economic releases this morning aren't moving the needle, but they're not great news for the housing market. Meanwhile, SpaceX (SPCX) is making a $60.0 billion acquisition of the Cursor AI (all stock deal).

During the session, the Street will shift focus to the Fed and the FOMC decision tomorrow. Warsh’s debut.