📈Magnificent 7 Driving Most Of S&P 500’s Gains: Cable FX Macro
- Rosbel Durán
- Feb 5, 2024
- 1 min read
The so-called ‘Magnificent 7’ stocks have outperformed the U.S. benchmark by about 50 points over last year. One could say that these stocks are driving most of the equity index gains as they represent about 30% of the S&P 500
Analysts do not expect this trend to change in the near term. Goldman Sachs recently said the Mag 7 can keep rising as long as they beat the consensus while they said valuations remain relatively cheap when compared to the tech bubble of the early 2000s
Mag 7 outperformance extended last week as a total price return measure compiled by Bloomberg showed gains of 4.9%, its best 5-day period since early November
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