Wall Street's top strategists are spotting initial optimistic signs that U.S. corporate profits are expanding beyond the mega-cap tech stocks at the heart of the artificial intelligence boom. While the latest earnings season is still in its early stages, an analysis by JPMorgan Chase & Co. indicates that among the S&P 500 companies that have issued 2026 guidance, approximately half have provided outlooks exceeding expectations. Strategist Dubravko Lakos-Bujas noted in a report, "Since most companies reporting results are outside the tech sector, this trend suggests a broadening growth scope across other industries this year." Goldman Sachs also anticipates that earnings will support an expanding rally. A team of strategists led by Ben Snider projects robust economic growth in the first half of 2026, "which should provide a greater near-term tailwind for smaller, more cyclical stocks than for large-caps." Other metrics further support the trend of a broadening advance, following three years of market dominance by tech giants. The market-cap-weighted S&P 500 has gained about 1%, while the equal-weight index, which mitigates the influence of large tech firms, has climbed nearly 4%. Data reveals that the proportion of stocks trading above their 200-day moving average is near its highest level in the past year. Previously, Jim Lacamp, Senior Vice President at Morgan Stanley Wealth Management, emphasized in an interview that despite current market volatility, investors must resist the temptation to exit equities. He vividly likened the present market environment to a "rodeo bull"—an image stemming from rapid policy shifts and unpredictable changes, much like the uncontrollable,狂暴态势 of a bull in the arena. Lacamp specifically pointed out that beneath this surface chaos lies structural support: macroeconomic fundamentals remain robust and resilient, providing a solid basis for investors to stay invested in the market. Furthermore, Lacamp stressed that the significant expansion in market breadth is powerful evidence of underlying strength; specifically, biotech stocks, bank stocks, natural resource stocks, as well as small and mid-cap stocks have all actively participated in the current market rebound. This "hundred flowers bloom" pattern further validates the widespread distribution and strengthening of market momentum. Analysts expect the earnings growth gap between the "Magnificent Seven" tech stocks and the rest of the S&P 500 to narrow, leading investors to shift their focus towards traditional economic sectors like banking, consumer goods companies, and mining firms. Procter & Gamble (PG.US) serves as an example. The company's executives stated last Thursday that U.S. sales are rebounding and expressed confidence in achieving full-year forecasts, boosting the stock by 2.7% that day. United Airlines (UAL.US) shares also rose after the carrier predicted strong full-year performance driven by growing demand. This week, the earnings season will hit its peak, with companies representing about one-third of the S&P 500's market capitalization scheduled to report, including Apple (AAPL.US), Tesla (TSLA.US), Microsoft (MSFT.US), and Boeing (BA.US). However, Goldman's Snider cautioned that the bar for this momentum to be sustained long-term is high. He noted that current forecasts suggest S&P 500 companies will grow earnings by 15% in 2026, outpacing the 10% increase projected for the equal-weight index. The strategist also anticipates U.S. economic growth will slow in the second half of 2026 and into 2027, "which will limit the room for a large-scale broadening rotation."