Ilan Benhamou, a derivatives sales expert at JPMorgan, emphasized that the shift in the stock market from large-cap technology stocks to value stocks outweighs the influence of Federal Reserve (Fed) policy. In his report, he noted that the market remained resilient even amidst the Fed's rate hikes. Consequently, whether the Fed decides to pause after a 25 basis point rate cut or persists with accommodative policies, while potentially introducing some volatility, the prevailing narrative of interest rate policy will primarily serve to accelerate the rotation from tech stocks to value stocks, with minimal impact on the overall market landscape.