# Year-End Rally Begins

> Non-tech stocks surge as tech valuations face AI spending worries.
- Title: Year-End Rally Begins · Seekingalpha | Shortify
- Summary: Non-tech stocks surge as tech valuations face AI spending worries. The year-end rally is underway with non-tech equities outperforming tech stocks amid AI…
- Keywords: year-end rally, s&p 500, tech stocks, ai investment, non-tech equities, market rally, fear indicators, money, business, Year-End, Rally, Begins
- Source: Seekingalpha — https://seekingalpha.com/article/4956892-year-end-rally-is-well-underway
- Author: Lawrence Fuller
- Published: 2026-10-23T13:14:57+00:00
- Read time: 1 min
- Topics: year-end rally, s&p 500, tech stocks, ai investment, non-tech equities, market rally, fear indicators, money, business
## Year-End Rally Unfolding
The year-end rally is unfolding broadly with non-tech equities outperforming as tech valuations face scrutiny and ai-related spending concerns intensify.
## S&P 500 Gains
The equally weighted s&p 500 has gained 4.1% since october signaling underlying market strength outside technology.
## Contrarian Indicators
Elevated fear and extreme hedge fund short positioning suggest a potential short squeeze and rebound in tech stocks.
## Economic Outlook
Economic growth is expected to slow but remain near trend supporting continued rotation into value and yield as disinflation pressures persist.
## Investor Background
Lawrence fuller has managed portfolios for individual investors for 30 years starting at merrill Lynch in 1993.
## Investing Group
Fuller leads the portfolio architect group focusing on economic and market outlook with all-weather investment strategy.
## Key takeaway

The year-end rally is underway with non-tech equities outperforming tech stocks amid AI investment concerns.