On Tuesday, the Dow Jones Industrial Average reached new heights as the bull market expanded beyond technology stocks in anticipation of upcoming interest rate cuts. The Dow surged by 1.85% to close at 40,954.48, setting a new all-time high and marking its best session since June 2023. The Russell 2000 also saw gains for the fifth consecutive day. While the S&P 500 and Nasdaq Composite increased, technology stocks lagged behind in the rally. Caterpillar and UnitedHealth were among the top performers in the Dow, with strong gains driven by positive quarterly results. The recent shift from tech giants to small-cap and cyclical stocks began after a report indicated low inflation, leading to expectations of rate cuts by the Federal Reserve. Traders are now certain of a rate cut in September, boosting optimism for small caps and industrials. Retail sales data supported the belief in a solid economic backdrop, reinforcing investor confidence in the market's future success.