Posted on Dec 13, 2023
Wall Street calls them 'the Magnificent 7': They're the reason why stocks are surging
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https://www.npr.org/2023/12/13/ [login to see] /wall-street-magnificent-seven-apple-amazon-nvidia-tesla-microsoft-meta-alphabet
The year started with a lot of anxiety about a potential recession, but it's ending with Wall Street on a tear.
The S&P 500, a broad-based group of stocks that includes many of the world's biggest and best-known companies, is up more than 21% so far this year.
The year started with a lot of anxiety about a potential recession, but it's ending with Wall Street on a tear.
The S&P 500, a broad-based group of stocks that includes many of the world's biggest and best-known companies, is up more than 21% so far this year.
Wall Street calls them 'the Magnificent 7': They're the reason why stocks are surging
Posted from npr.org
Investing
Stock Market
Stock Trading
Economics
Posted 5 mo ago
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PO1 William "Chip" Nagel
..."That is remarkable given how much the Federal Reserve has hiked interest rates and how much uncertainty remains about the economy — although investors are now betting policymakers will start cutting rates next year. That led to big market gains on Wednesday: The Dow Jones Industrial Average set a new record, ending the day at 37,090.
But the S&P 500's gains, eye-popping as they are, haven't been widely shared — and that is making some people nervous.
In fact, as it turns out, the S&P 500's impressive performance is actually thanks almost entirely to just a handful of stocks: "The Magnificent Seven," as they are referred to on Wall Street."...
..."That is remarkable given how much the Federal Reserve has hiked interest rates and how much uncertainty remains about the economy — although investors are now betting policymakers will start cutting rates next year. That led to big market gains on Wednesday: The Dow Jones Industrial Average set a new record, ending the day at 37,090.
But the S&P 500's gains, eye-popping as they are, haven't been widely shared — and that is making some people nervous.
In fact, as it turns out, the S&P 500's impressive performance is actually thanks almost entirely to just a handful of stocks: "The Magnificent Seven," as they are referred to on Wall Street."...
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