2024-03-18 15:05:00 ET
Summary
- The Magnificent Seven year-to-date average return is 13.8% versus the S&P 500 Index return of 7.6%.
- The market is experiencing bullish rotation where lagging sectors and stocks are attracting investor interest.
- However, from a seasonality perspective, near-term market weakness may occur.
Since the beginning of 2023, the S&P 500 Index (SPX) is up 35.9% while the average total return of the so-called Magnificent Seven stocks is 159.1% over that same time frame. The technology-heavy Nasdaq 100 index is up 64.5%. The technology sector accounts for nearly 60% of that index's weighting. And in fact, the technology sector weighting in the S&P 500 index is nearly 30%....
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For further details see:
A Correction In A Bull Market