For much of the past decade, the “Magnificent 7” (companies like Apple (AAPL), Microsoft (MSFT), and Nvidia (NVDA)) have shaped the rhythm of U.S. market performance. Yet by late 2025, that dominance is beginning to fade. The Federal Reserve’s recent series of rate cuts, including its first 25-basis-point reduction for the year in September, with more expected before year-end. This shift has changed the tone of U.S. equities entirely.
Instead of reigniting another tech boom, the cuts have accelerated a broader rotation into “real economy” sectors, metals, energy, and raw materials, where demand is driven by production, infrastructure, and resource security rather than speculative valuations. This rotation has opened space for this rare earth ETF, SPDR S&P Metals & Mining (XME), to shine, offering a snapshot of America’s industrial revival.
