“We still think it’s too early to write off the rest of the ...

“We still think it’s too early to write off the rest of the market in favor of the large-cap tech and Nvidia especially,” Bespoke Investment Group co-founder Paul Hickey said on Tuesday. “We look for the market to broaden out, but it’s not necessarily a binary choice between megacaps and smaller caps, but more bias going forward to looking at these other companies in the S&P 500.”

Wall Street will shift its attention toward fresh inflation data on Friday with the release of May’s personal consumption expenditures price index. The Federal Reserve keeps a close eye on this metric, its preferred inflation gauge, and investors remain hopeful for the prospect of rate cuts.

Quarterly results from General Mills and Paychex are due Wednesday morning. Micron Technology will report earnings that afternoon.