And investors have responded by reverting to familiar behaviors — namely, bidding up shares of megacap technology giants. Long known as the Magnificent Seven, the recent ascendance of shares of Broadcom Inc. AVGO past the $1 trillion market capitalization mark has inspired a new term: the “BATMMAAN” stocks.

U.S. stocks are drifting near a record as Wall Street’s recent rally loses some momentum. The S&P 500 slipped 0.1% in early trading Thursday, a day after after pulling to the edge of its all-time high set in early December.