Tech’s Early Surge Fades, Small Caps Dominate, Carry Trade Questions

The stock market delivered a mixed but ultimately positive session, with broad-based gains led by Tech after TSMC’s strong earnings results overnight. While leading early, the Tech sector tempered market gains by late-afternoon as profit profit-taking hit Tech and mega-cap tech names. Despite the AI-related risk-on catalyst, Small Caps outperformed with cyclical and countercyclical sectors–…