Is The Stock Market In 'Turtle Mode?' Here's Why Traders Are Ducking For Cover

The article frames the U.S. stock market as increasingly defensive amid tech earnings disappointment and rising oil prices. Investors are punishing AI-related megacaps that spent heavily on capital expenditures but did not deliver strong free cash flow, with Alphabet and Tesla cited as examples. According to Asbury Research’s John Kosar, the market appears to be in a “turtle mode” stance, signaling caution, lower risk appetite, and a lack of clear leadership. At the same time, healthcare is seeing inflows as investors rotate toward more defensive sectors. The piece suggests the current environment may favor safety over growth until the market gets clearer evidence that AI spending translates into profits.