Big tech stocks soar while Main Street ETFs lag, signaling uneven market rally ahead.

Big tech stocks, especially those tied to semiconductors and AI, have significantly outperformed Main Street sectors like retail and homebuilding over the past year. For example, the iShares Semiconductor ETF rose 160.7%, while the State Street SPDR S&P Homebuilders ETF gained only 8.7%. This divergence reflects challenges such as a weak housing market, moderate job growth, and rising consumer costs that limit spending. For a broad market rally to sustain, consumer-focused sectors will need to improve their performance soon.