BREAKING
Investors Rotate Into Old-Economy Stocks
Transports Beat S&P 500 by ~13 Points
Dow Transports
13
S&P 500
0
Why the Skepticism Is Building
1
Huge AI CapEx
↓
2
Rising energy costs
↓
3
Returns below expectations
↓
4
Falling usage prices
Token Costs Trend Lower Since Jan 2025
Where the Flows Are Going
Old Economy
Inflows
●
Transport, manufacturing, energy
●
Steady free cash flow
●
Healthcare and utilities
AI Trade
Reappraised
●
Valuation concerns
●
Concentration risk
●
Depreciation weighs on income
Rotation Is the Near-Term Focus
AI NEWS BLITZ
Doubts over the AI rally are pushing investors toward old-economy names in early 2026.