The S&P set an all-time high following Wednesday's softer inflation report. Ironically, Apple, Microsoft, and Nvidia were the primary market drivers for the day. This continues to be a very lop-sided market; the deviation from the 50-DMA is getting pretty extreme again. Outside the S&P, the equal-weighted index is underperforming, and that gap is widening. 40% of the Russell 2000, for example, is non-profitable companies. There's a very big difference between what's happening in the S&P and the rest of the non-weighted world. Small- and Mid-cap companies are even more sensitive to economic data, and since 40% are not profitable, they're relying on debt; their survival is more dependent upon consumer strength and liquidity, which is waning. Despite yesterday's S&P performance, the Russell 2000 is still below its peak of 2022. There has been similar, disappointing performance in the S&P 600 of Small-cap companies. Also note: These companies do not do stock buybacks, so that "trick" for boosting shares does not exist for them. Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton, Executive Producer ------- Watch the video version of this podcast: https://www.youtube.com/watch?v=UrXTxLY9ihQ&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #SP500 #SP600 #Russell2000 #ExtremeDeviation #StockBuyBacks #AppleIntelligence #AI #ArtificialIntelligence #MagnificentSeven #FederalReserve #FOMC #InterestRates #RateCuts #QuantitativeTightening #PortfolioRebalancing #20DMA #50DMA #100DMA #CruideOil #InvestingAdvice #Money #Investing