Broadening U.S. market rally gets boost from dovish Fed

A reassuring economic outlook and dovish signals from the Federal Reserve are encouraging investors to look beyond the massive growth and technology stocks that have fueled the U.S. stock market’s gains over the past year.

Investors in the coming week will be watching Friday’s personal consumption expenditures price index that will offer the latest read on inflation. The end of the first quarter also could prompt volatility as fund managers adjust their portfolios. The wider rally “means that leadership isn’t so concentrated and susceptible to a correction,” said Robert Pavlik, senior portfolio manager at Dakota Wealth.

In another sign of broadening, more S&P 500 stocks are outperforming the benchmark, 180 so far this year as of Thursday versus 150 last year.

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