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A Fresh Record Looms for the Unsinkable S&P 500

Bloomberg Markets Tuesday 04 August 2026, 10:21 UTC By Phil Serafino 1 min read
Key Points

A Fresh Record Looms for the Unsinkable S&P 500 Market’s gains have broadened as the AI trade falters This article is for subscribers only. It may be hard to believe, given all the recent drama in stock markets, but the S&P 500 is on the verge of a fresh record high for the first time since June 2. After the selloff in chip stocks and other AI winners over the past couple of months, a lot of froth in the equity market has been aggressively removed and valuations have been reset.

A Fresh Record Looms for the Unsinkable S&P 500 Market’s gains have broadened as the AI trade falters This article is for subscribers only. It may be hard to believe, given all the recent drama in stock markets, but the S&P 500 is on the verge of a fresh record high for the first time since June 2. After the selloff in chip stocks and other AI winners over the past couple of months, a lot of froth in the equity market has been aggressively removed and valuations have been reset. Data from prime brokers — the firms that finance hedge funds — shows that leverage has largely been cleaned up.
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Originally published by Bloomberg Markets Read original →

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