There's been a big rally in tech stocks this year, led by those companies involved in the current generative artificial intelligence (AI) buzz. However, the overall market is still waiting for the start of a new bull run and the economy is working to absorb the effects of the U.S. Federal Reserve's interest rate hikes. The S&P 400 (a mid-cap stock index) and the Russell 2000 (a small-cap index) have barely budged over the last 12-month stretch after getting hit hard in 2022.

Data by YCharts.

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Source Fool.com