Mike Larson | Editor-in-Chief
AI. AI. AI. And a handful of other stocks, too. That’s basically what’s working in equity markets this year. So…should you worry?
We’ll get to that in a minute. But let’s start with the MoneyShow Chart of the Day, which comes courtesy of Jim Bianco at Bianco Research.
You can see that the S&P 500 Index (^SPX) was up 8.9% as of the end of May – and AI-related stocks accounted for 7.6 percentage points of that gain. “Everyone else” contributed only 1.3 points.
Source: Bianco Research
If you go back even further – and measure gains from the Nov. 22, 2022 launch of ChatGPT for public consumption – you find that AI stocks fueled 70% of the increase in S&P market capitalization.
Wondering what qualifies as an “AI stock?” The basket used in this exercise includes 41 direct or indirect AI beneficiaries. Think semiconductor providers, Magnificent Seven names, utilities, and capital equipment companies like Broadcom Inc. (AVGO), Nvidia Corp. (NVDA), NextEra Energy Inc. (NEE), and Quanta Services Inc. (PWR).
Now let’s get to the “Should I be worried or not?” part. Jim will share detailed insights at our 2026 MoneyShow Masters Symposium San Francisco this August – and I hope to see you there. But on X, he used the Dot-Com Bubble as an illustration. His thesis? We’re closer to the “1997” point in the cycle...versus March 2000 when the Dot-Com Bust was about to begin.
Personally, I’ll just repeat what I’ve been saying when kicking off MoneyShow events recently. I don’t think tech is on the verge of a crash. But I DO think it makes sense to allocate more capital to other sectors that could play catch up – including groups that have their own reasons to rally beyond AI, AI...and more AI!
US foreign policy is at a generational turning point. KT McFarland explains why the current "long game" is no longer about traditional diplomacy, but about achieving American dominance through the convergence of energy and AI.
In this keynote from the 2026 MoneyShow Masters Symposium Dallas, the former Deputy National Security Advisor—who has served under four US presidents—breaks down the "method to the madness" of current global strategy. She also reveals how trade agreements, energy independence, and high-stakes military maneuvers like "Operation Epic Fury" are all interconnected pieces on a global chessboard. If you want to understand how national security and global markets will be reshaped heading into the late 2020s, this session offers a comprehensive framework.
Alhajji on Energy. Yardeni on the Economy. Sosnoff on Options. All Waiting for YOU in Las Vegas!
No matter what your portfolio looks like, we have EXPERT help waiting for you at the 2026 MoneyShow Masters Symposium Las Vegas! Anas Alhajji will cover energy markets. Edward Yardeni will give you a top-down economic overview. Tom Sosnoff will provide hands-on options trading help and recommendations. And they’ll be joined by DOZENS more experts at Caesars Palace.
Don’t miss out! Review the agenda, look at the various pass options available, then book YOUR ticket at the event website here…
Valued at $56.9 billion, Nucor Corp. (NUE) is a leading producer of structural steel, steel bars, steel joists, steel deck, and cold finished bars in the US. The stock is showing superior current momentum in both strength and direction and just received a Trend Seeker “buy” signal, highlights Jim Van Meerten, analyst at Barchart.
Last week, oil sank and stocks surged as discussions of an extended ceasefire in Iran raised hopes that the fog of war may begin to lift. On the surface, the equity battlefield responded with relief. Yet beneath the price advance, liquidity and capital flows told a less celebratory story, notes Buff Dormeier, chief technical analyst at Kingsview Partners.
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