When a stock keeps hitting new highs, it gets expensive for investors. While it does speak about the company's potential and growth, retail investors shy away from putting over $500 in a single stock.

Over the last two years, Meta has significantly ramped up its spending on artificial intelligence (AI). Its capital expenditures in 2023 were $28.1 billion. For 2025, management expects to spend up to $65 billion.

The contenders for the market’s new leadership are value stocks and defensive sectors. Here’s where the U.S. stock market is right now. The large-cap growth, old leadership is faltering, and different candidates are vying for the top spot.