Wall Street traders gearing up for this week’s Federal Reserve decision kept driving a rotation out of the tech megacaps that have powered the bull market in stocks.

As bets on a half-point Fed cut on Wednesday kept growing, money continued to flow into economically sensitive corners of the market. While the S&P 500 edged only mildly higher — most of its shares were up. The gauge’s equal-weighted version — one that gives Target Corp. as much clout as Microsoft Corp. — hit a record high on hopes the rally will broaden out.