Wall Street’s record-setting rally is due for a reality check, according to the latest report from Stifel’s Barry Bannister and Thomas Carroll.

The stock market’s record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy.

NEW YORK (AP) — U.S. stock indexes are edging lower on Thursday as Wall Street makes its final moves before the head of the Federal Reserve gives a highly anticipated speech on Friday that could hint at where interest rates are going.

The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.

A slew of Wall Street analysts covering Nvidia Corp. are boosting their expectations for the chipmaker’s stock ahead of its quarterly earnings release due Aug. 27.

Live Updates Live Coverage Has Ended Thursday Wrap-up 4:17 pm The Vanguard S&P 500 ETF closed at 584.27 Thursday, down 0.4%. Morgan Stanley Loves HP Enterprise 12:31 pm In analyst action, Morgan Stanley analyst Erik Woodring upgraded shares of HP Enterprise (NYSE: HPE) to overweight with a $28 price target this morning.

NEW YORK (AP) — Wall Street is holding near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.

US stock futures wavered just above the flatline as Wall Street readied for the main event of the week: Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium in Wyoming.