AI will continue to power market rally: BlackRock

) closed higher for the 36th time in 2024 on Tuesday. The tech heavy index can attribute much of its gains from the AI sector as about 30% of its value comes from the Magnificent 7 group of tech stocks. According to ajoins Catalysts to break down the report and what investors can expect for the AI hype train moving forward as the market rally chugs along.S and P 500 just noting its 36th record close of the year on Tuesday and it's moving higher still today.

And you can see for example, utilities, we've talked a lot about you guys year to date utilities ETF is up more than 8% last year.A lot of this has to do with powering the A I data centers, the electrification of the US.So by broadening out, they're meaning that this is broadening into other sectors that are going to benefit from that A I adoption and build out.

AI is effectively ‘useless’—and it’s created a ‘fake it till you make it’ bubble that could end in disaster, veteran market watcher warns

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