Alexandra Semenova

Traders pulled back from risk assets ahead of a crucial inflation reading, with a torrid run in US equities running out of steam as worsening tensions between Washington and Iran sent oil prices higher.

US equity futures pushed higher early Wednesday as traders snapped up technology shares after a pullback in the group, with enthusiasm around strong earnings outweighing a resurgence in inflation.

US stock futures rose Thursday morning as the artificial intelligence trade continued to drive gains across technology shares, powered by upbeat earnings from Cisco Systems Inc. and an AI IPO.

Active managers who briefly looked like they might finally have their moment earlier this year are once again confronting a familiar problem: a market rally driven by a tiny group of tech megacaps that diversified portfolios simply can’t keep up with.

Alexandra Semenova (Bloomberg) -- Active managers who briefly looked like they might finally have their moment earlier this year are once

The S&P 500 Index advanced 0.4% Thursday, while the Nasdaq 100 Index gained 0.6% as of 9:40am in New York.

Rising bond yields curbed traders’ appetite for risky bets early Friday, sending stocks lower following a weeks-long record-setting rally driven by a rush of cash into all things artificial intelligence.

The S&P 500 Index fell 1% as of 9:54am in New York, while the Nasdaq 100 Index tumbled 1.4%.

Turns out, loading up on technology giants isn’t the only route to better returns. Value companies, too, stand a decent chance of trouncing the market — as long as several conditions are met.

US stocks may be vaulting from one record to the next, but Wall Street analysts covering them are in no rush to keep up.