VGSH - New Leaders Emerge As Market Dynamics Change
2024-03-12 10:30:00 ET
Summary
- From the latest news and earnings reports, it looks like the Magnificent 7 leadership is changing.
- So far, March has been characterized by wave after wave of positive analyst earnings revisions, since fourth-quarter earnings surprises were so strong.
- This market's current "melt-up" is likely to persist, since there is plenty of fuel that can be tapped to move back into the stock market over the next several months.
From the latest news and earnings reports, it looks like the Magnificent 7 leadership is changing. For starters, Apple ( AAPL ) and Tesla ( TSLA ) are beginning to falter, while the AI-related rally in Nvidia ( NVDA ) and Super Micro Computer ( SMCI ) continues to lead the overall stock market higher. NVDA rose 3.6% on Monday, while SMCI soared 18.65%, due largely to the news that it will be added to the S&P 500 on March 18 th - and many investors decided to get a head start on the index funds....
New Leaders Emerge As Market Dynamics Change