S&P 500 rises as Dow, Nasdaq falls focused on the Fed’s rate path

Investors remain bullish on stocks.

Cash levels fell to 15-year lows as traders doubled their stocks, according to the latest Bank of America fund manager survey released Tuesday.

According to 56% of respondents, the “long epic 7” remains the busiest trade.

But Big Technology wasn’t the bright star of 2025.

So far, the meta (Meta) It is one of seven epic tech stocks that surpass the benchmark S&P 500 (^gspc) After 20 days in a row it rose. But breaking that streak is currently on track, but stocks fell nearly 3% in the early stages of trade on Tuesday.

And as pointed out by Yahoo Finance’s Josh Schaferthe number of companies exceeding the index’s profits of around 4%, has skyrocketed to start the year.

Looking at cross-asset performance in 2025, investors in the BOFA survey currently view global equities as the best performing assets (21% vs. 21% in January), and US equities (18% vs. 27%) I’m overtaking it. Gold is in the middle of 22%, and safe haven assets are currently trading near record highs.

Still, certain risks remain. Approximately 42% of survey respondents classified the World Trade War as the number one risk in assets this year. Separately, nearly 40% say the recessional trade war is the biggest “tail risk” ahead of inflation leading to a rise in the Fed and potential AI bubble.