It’s not just tech. Other stocks are hitting 52-week highs.

 It’s not just big tech stocks that have led the market higher this year. Look around and you’ll find a variety of big-name stocks starting to join the 52-week high club. In some cases, they reached record peaks.

Walmart (WMT) closed at an all-time high of $158.20 on Monday. On the same day, Chipotle Mexican Grill (CMG ) hit a new intraday high following Friday’s record close of $2,139. Fast food chain McDonald’s (MCD) also posted its best ever close last week at $298.41.

So far, analysts have pointed to a handful of tech stocks driving this year’s sharp market gains. Apple recently became the first U.S. public company to close at a $3 trillion valuation.

Other big names that hit 52-week highs recently include General Electric (GE) and home improvement retailer Lowes (LOW).

“Overall, to me, this is just further evidence of breadth,” JC Parets, president and founder of Allstarcharts.com, said in a recent note to investors.

“That’s what happens in a bull market,” he added.

Yet other strategists caution against getting too bullish too soon.

Chris Varrone and Ross, managing directors at Strategas, said: “On the face of it, things have widened slightly over the past few weeks. However, it is still unusual to be around nine months from the October lows and not have rebounded by much. Mayfield, an investment strategist at Baird Private Wealth Management, wrote in a recent note to investors.

The strategist added: “Today, about 60-65% of stocks are above the 200-day moving average, and historically, you might see 80-90% of stocks in the first year below the low. 200-day moving average.” .

“There are signs of cyclical leadership, but not as wide-ranging as one might expect,” they said.

This year's market rally has been largely driven by technology stocks such as Apple. That may be changing.REUTERS/Carlo Allegri

This year’s market rally has been largely driven by technology stocks such as Apple. That may be changing.REUTERS/Carlo Allegri

Overall, the Nasdaq (^IXIC) is up 30% in the first six months of the year, notching its best first-half performance ever. The broader S&P 500 (^GSPC) had its best first-half performance since 2019, rising 16%.

Investors have piled into information technology, communication services and consumer discretionary stocks this year amid a boom in artificial intelligence as well as energy and financials.

Yet even a firm like JPMorgan Chase (JPM) — which bought First Republic earlier this year to stem a regional banking crisis — hit a new 52-week high on Monday.

Credit card companies Mastercard (MA) and Visa (V) have reached similar levels recently.

“I was promised a banking crisis and maybe even a recession. But all I got was the most 52-week highs in years,” Paretz said.

Travel stocks also jumped. Marriott International (MAR), Delta Air Lines (DAL), Carnival Corporation (CCL) and Norwegian Cruise Line (NCLH) all touched new 52-week highs intraday recently.

Travel and leisure is one of the sectors of the economy that has been strong despite the Federal Reserve’s tightening monetary policy.

Carnival shares jumped to a 52-week intraday high of $19.19 on Monday. The cruise operator recently announced record quarterly bookings.

“We’re back,” Carnival CEO Josh Weinstein told Yahoo Finance earlier this year.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter: @ines_ferre

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