Magnificent Seven Could Jump-Start a Sluggish Market
TL;DR Summary
July has been calm on the surface, but megacap tech is quietly reviving: the Magnificent Seven are rebounding and could lift the S&P 500 as Big Tech earnings kick off, with the Roundhill Magnificent Seven ETF (MAGS) up in July and earnings growth for the group forecast around 31% vs roughly 23% for the rest of the market. A strong showing could help wake a stubborn bull market, but oil pressures and geopolitical risks ahead of the Fed meeting add notable uncertainty.
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