Roundhill Magnificent Seven ETF (NASDAQ: MAGS)

Últimas noticias sobre Roundhill Magnificent Seven ETF (NASDAQ:MAGS)

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The Fund is an actively managed exchange-traded fund (ETF) that pursues its investment objective by seeking investment exposure to the largest companies (Underlying Issuers) in one or more of the following industries, each of which is defined by an independent industry classification scheme: Technology Hardware Industry; E-Commerce Discretionary Industry; Internet Media & Services Industry; and Software Industry (collectively, the Technology Industries). The Fund generally will offer exposure to between five and ten Underlying Issuers primarily through the use of swap agreements and/or forward contracts. The Fund also may invest directly in the equity securities issued by the Underlying Issuers, such as common stock or American Depositary Receipts (ADRs), or other securities that provide similar exposure to one or more Underlying Issuers when the Adviser believes doing so is in the best interests of the Fund and its shareholders.

Tesla, Inc.

Meta Platforms, Inc.

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AAPL

AMZN

GOOG

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Nvidia se destaca como la elección principal en la encuesta reciente de Benzinga, mientras que Alphabet ocupa el último lugar.

¿En cuál de las Siete Magníficas pondrían los inversores 1000$ hoy? Encuesta de Benzinga

MAGSEIS FAIRFIELD ASA by MAGSEIS FAIRFIELD ASA

Editor&#8217;s Note: This article was updated to correct the rankings to account for Walmart&#8217;s 2024 stock split.
The Dow Jones Industrial Average hit an all-time high of over 45,000 points in December, one of several stock market indexes to hit records after Donald Trump won the <a href="https://www.benzinga.com/24/11/41857971/trumps-win-sends-wall-street-to-record-highs-small-caps-tesla-outperform-fed-cuts-interest-rates-this-week-in-the-market">2024 presidential election.</a>
Here's a look at the top-performing and worst-performing Dow Jones Industrial Average components in 2024 and how the index's leaders could look much different in 2025.
2024 Performance: In 2024, 18 of the <a href="https://www.benzinga.com/topic/dow-jones-industrial-average">Dow Jones component stocks </a>were up, with 12 stocks declining for the full year. This includes the original Dow Jones members at the start of 2024 and does not factor in the index changes made throughout the year.
Here's a look at the top five gainers for the full year, based on Dec. 27 closing prices:
<ol>
<li>Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>): +70.6%</li>
<li>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>): +60.7%</li>
<li>Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>): +49.4%</li>
<li>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>): +41.8%</li>
<li>International Business Machines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>): +36.2%</li>
</ol>
Here are the top five losers for the full year, based on Dec. 27 closing prices:
<ol>
<li>Walgreens Boots Alliance (NASDSSQ:WBA): -63.2%</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>): -59.6%</li>
<li>Boeing Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>): -30.7%</li>
<li>Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>): -29.6%</li>
<li>Dow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) -27.0%</li>
</ol>
For comparison, 19 of the Dow Jones components stocks <a href="https://www.benzinga.com/news/24/01/36455419/5-biggest-winners-5-biggest-losers-from-dow-jones-industrial-average-in-2023">were up in 2023</a>, with 11 down for the full year.
A quick look at the losers list shows two stocks that are no longer part of the Dow Jones Industrial Average, thanks to several changes that took place in 2024 to the 30 core components.
Apple is the only stock to appear on the top gainers list for both 2023 and 2024, ranking fourth in 2023 and fifth in 2024.
Intel was the second-biggest gainer in 2023 before falling in 2024 and turning in the second-worst performance of the 30 stocks. Boeing also flipped from being a top performer, ranking fifth in 2023 to turning in a poor performance in 2024.
Walgreens was the worst-performing Dow Jones stock for the second straight year, but that will be a thing of the past heading into 2025.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/11/41724410/nvidia-joining-dow-jones-industrial-average-where-tech-giant-ranks-in-the-index-why-sh">Nvidia Joining Dow Jones Industrial Average: Where Tech Giant Ranks In The Index, Why Sherwin-Williams Addition Could Be More Important</a>
 What's Next in 2025: After several years of no changes to the 30 components of the Dow Jones Industrial Average, the well-known market index made multiple changes in 2024.
The index replaced underperforming Walgreens with Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in February. The index also replaced Intel and Dow Inc with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) respectively.
With the changes, the Dow Jones Industrial Average will now have four of the seven Magnificent 7 stocks heading into 2025 with Amazon, Nvidia, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) all included in the Dow.
The stocks that left the Dow Jones in 2024 were among the biggest losers in 2024 for the index, with Walgreens ranking worst for yearly performance, Intel ranking second worst and Dow ranking sixth worst at -27.0%.
The underperformance of several Dow Jones components kept the index down compared to other market barometers. The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), which tracks the Dow Jones Industrial Average, is up 14.0% year-to-date in 2024.
For comparison, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index, is up 23.8% year-to-date.
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which tracks the Magnificent 7 stocks, is up 68.5% year-to-date.
Having Amazon, Nvidia and Sherwin Williams as components to start 2024 would have made the index's returns look significantly different. While the three stocks that left the index were each down over 25% year-to-date in 2024, here are the year-to-date returns of the replacement stocks in 2024:
<ul>
<li>Amazon: +46.6%</li>
<li>Nvidia: +179.8%</li>
<li>Sherwin-Williams: +11.8%</li>
</ul>
The Dow Jones Industrial Average will look significantly different in 2025 than in previous years, and more changes could be ahead for stocks that have underperformed in the index.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent123024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Broad U.S. Equity ETFs

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SPDR Dow Jones Industrial Average ETF Trust

INTC

Dow Jones 2024 Scoreboard: Top 5 Winners, Losers — And How Amazon, Nvidia Could Reshape 2025 (CORRECTED)

U.S. stock futures declined on Thursday in premarket hours after hitting fresh highs on Wednesday. The futures of all the four major indices were trading lower.
November inflation data was in line with analyst expectations, shooting up the probability of a further 25 basis point rate cut in December rose to 98.6% versus 58.75% probability a month ago, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>. Federal Reserve officials are currently in a quiet period ahead of their December meeting.
Traders now await the producer price index data, which will be released later today. The 10-year and two-year Treasury notes yielded 4.30% and 4.18%, respectively
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.16%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.19%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.18%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.12% to $606.71 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.20% to $528.87, according to <a href="https://www.benzinga.com/pro/">Benzinga Pro data</a>.
Cues From The Last Session
The Consumer Price Index (CPI) for November climbed 2.7% year-over-year, aligning with expectations. 1 Core inflation, excluding volatile food and energy costs, held steady at 3.3%.  
The Magnificent Seven's combined <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42445451/nasdaq-100-rallies-to-record-highs-magnificent-7-market-cap-tops-17-trillion-bitcoin-soars-to-100000-whats-driving-markets-wednesday">market cap hits $18.2 trillion,</a> with five giants reaching all-time highs on Wednesday. The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), a closely watched benchmark for the group&#8217;s market performance, surged 3.03% on Wednesday, setting a new all-time high.
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) surged 3.03%, its best performance since early November. 
The broader market also participated in the rally. The S&amp;P 500 climbed 0.82%, nearing its all-time high. Small-cap stocks added 0.48%, while the Dow Jones Industrial Average ended 0.22% lower.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.77%</td>
<td>20,034.90</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.82%</td>
<td>6,084.19</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.22%</td>
<td>44,148.56</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.48%</td>
<td>2,394.16</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42445451/nasdaq-100-rallies-to-record-highs-magnificent-7-market-cap-tops-17-trillion-bitcoin-soars-to-100000-whats-driving-markets-wednesday">Nasdaq 100 Rallies To Record Highs, Magnificent 7 Market Cap Tops $17 Trillion, Bitcoin Soars To $100,000: What&#8217;s Driving Markets Wednesday?</a>
Insights From Analysts
Despite the S&amp;P 500 Index nearing record highs on Wednesday, its breadth was skewed in the favour of the bears.
&#8220;117 stocks in the S&amp;P 500 made a new monthly low yesterday, the most since 139 on Halloween. 211 made a 10-day low, most since Sept 6,&#8221; said Ryan Detrick, the chief market strategist at Carson Group.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">117 stocks in the S&amp;P 500 made a new monthly low yesterday, the most since 139 on Halloween. 211 made a 10-day low, most since Sept 6. Not end of world stuff, but clearly some deterioration under the surface taking place.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1866927212479590411?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The breadth has been skewed for the last seven days. &#8220;Since 2010, only happened two other times. Aug &#8217;11 and Dec &#8217;18. Small sample size yes, but not the worst times for bulls going forward,&#8221; added Detrick.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">7 consecutive days there have been more decliners than advancers on the S&amp;P 500. Since 2010, only happened two other times. Aug &#39;11 and Dec &#39;18. Small sample size yes, but not the worst times for bulls going forward.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1866929220540305836?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Talking about balancing growth amid policy shifts, Andrew Pease, the chief investment strategist at Russell Investments said, &#8220;Tax cuts and deregulation could provide a meaningful growth boost, particularly to domestic and cyclical sectors.&#8221;
&#8220;Given lower valuations and improving sentiment, we are more positive on U.S. small-cap equity than we have been in prior years. Large-cap dominance in both earnings and price appreciation will require a catalyst to shift returns in the small-cap direction,&#8221; he added.
Apart from small-caps, Pease in his note said that &#8220;growth managers targeting high-growth cyclical sectors like software, while value managers identify mergers and acquisitions potential in financials and healthcare. Core managers are balancing cyclical exposure and managing risks in rate-sensitive sectors.&#8221;
Citing rich valuations, Alex Chaloff, the chief investment officer at Bernstein Private Wealth Management said that they are still pro-equities.
&#8220;We&#8217;re optimistic on equities, think that valuations are a little bit rich in a pocket of the market, but there are some opportunities. In bonds, you can clip the coupon even if rates move higher from here, which we don&#8217;t think is our base case,&#8221; he said.
See Also: <a href="https://www.benzinga.com/24/12/42453807/spacex-hits-350-billion-valuation-in-insider-share-sale-ceo-elon-musk-says-no-investors-wanted-to-sell-shares">SpaceX Hits $350 Billion Valuation In Insider Share Sale: CEO Elon Musk Says &#8216;No Investors Wanted To Sell Shares&#8217;</a>
Upcoming Economic Data
This week&#8217;s remaining economic calendar with essential data releases that will help investors shape their future plans and strategies.
<ul>
<li>On Thursday, initial jobless claims data till Dec. 7 and the core and headline producer price index for November will be released at 8:30 a.m. ET.</li>
<li>On Friday, the import price index data will be released at 8:30 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Macy's, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) was down 1.03% as its net sales decreased 2.4%. Sales growth at Macy's First 50 locations, Bloomingdale's, and Bluemercury was offset primarily by weakness in Macy's non-First 50 locations, digital channels, and cold weather categories.</li>
<li>Nordson Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) fell by 5.43% as the company revenue guidance for the fiscal year 2025 was below analyst expectations.</li>
<li>Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) declined by 9.99% after its earnings beat estimates but the revenue guidance for the first quarter missed the mark.</li>
<li>Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) was up 1.08% in the premarket as it is slated to report quarterly earnings before the bell. Wall Street expects it to report quarterly earnings of 66 cents per share on revenue of $1.10 billion.</li>
<li>DBV Technologies SA &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBVT#NASDAQ">DBVT</a>) rose by 32.83% after the company announced alignment with the FDA on an accelerated approval pathway for the Viaskin peanut patch in toddlers one to three years old.</li>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) gained 39.90% after the company priced its $2.2 million registered direct offering of 1.35 million shares at $1.60 per share.</li>
<li>Nuburu Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURU#NYSE">BURU</a>) was up 22.62% after the company addressed NYSE compliance violations over 4.6 million share issuance.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) is in focus as President-elect Donald Trump <a href="https://www.benzinga.com/general/social-media/24/12/42454492/djt-stock-in-focus-as-trump-set-to-ring-nyse-bell-today-heres-why-president-elect-once-threatened-to-shift-trump-media-from-nasdaq">is set to ring </a>the New York Stock Exchange opening bell Thursday.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were largely unchanged in the early New York session and rose 0.03% to hover around $70.31 per barrel.
The gold spot index fell by 0.37% to $2,746.59 per ounce. The Dollar Index was down 0.12% to 106.581 level.
Asian markets were mixed on Thursday as Australia&#8217;s ASX 200 and India&#8217;s S&amp;P BSE Sensex declined. While, Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, Japan&#8217;s Nikkei 225, and South Korea&#8217;s Kospi Index advanced. Most European markets advanced.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42454495/microsoft-expects-800-million-impairment-charge-due-to-gms-cruise-exit-but-analysts-say-its-a-step-in-the-right-direction-for-automaker">Microsoft Expects $800 Million Impairment Charge Due To GM&#8217;s Cruise Exit, Analyst Says It&#8217;s A &#8216;Step In The Right Direction&#8217; For Automaker</a></li>
</ul>
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Wall Street Poised To Open Lower A Day After Nasdaq's Record Close Above 20,000: Expert Flags 'Deterioration Under The Surface' As 117 S&P 500 Stocks Hit New Monthly Lows

The Magnificent Seven tech giants are rewriting the playbook on market dominance, with their combined market capitalization surging to <a href="https://www.benzinga.com/topic/magnificent-seven">an unprecedented $18.2 trillion.</a>
Five out of the seven juggernauts — Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — smashed through record highs during Wednesday trading, solidifying their grip on the global stock market and fueling another strong rally in 2024.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), a closely watched benchmark for the group's market performance, surged 2.8% on Wednesday, setting a new all-time high.
Notably, Tesla shares soared to fresh all-time highs after surpassing the peak set in November 202. The EV-maker has gained 67% since the U.S. presidential election, thanks to its innovative ability to scale like a software company.
&#8220;Because Tesla can remotely update its fleet&#8217;s software, its ability to scale and grow are more similar to the other tech companies in the&nbsp;Magnificent-7&nbsp;than an auto manufacturer,&#8221; said Wall Street veteran investor Ed Yardeni in a note Wednesday. 
Alphabet led the day's rally with a 4.63% gain, while Apple lagged, showing a flat performance.
The elite group of tech giants has delivered an average return of 67.1% year-to-date, compared to a record-breaking 111.7% average return in 2023.
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) were the only members of the elite group that did not hit new all-time highs during Wednesday's trading session.
Yet, Nvidia remains the standout performer with a staggering year-to-date gain of 182%, securing its position as the top performer in the Magnificent Seven.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Market Cap</td>
<td>All-time high</td>
<td>1-Day %chg</td>
<td>Total Return (YTD)</td>
<td>Total Return (2023)</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>$3.745 trillion</td>
<td>Dec. 11, 2024</td>
<td>-0.11%</td>
<td>29.38%</td>
<td>49.01%</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>$3.417 trillion</td>
<td>Nov. 21, 2024</td>
<td>3.62%</td>
<td>182.08%</td>
<td>239.02%</td>
</tr>
<tr>
<td>Microsoft Corporation</td>
<td>$3.336 trillion</td>
<td>July 5, 2024</td>
<td>1.24%</td>
<td>20.17%</td>
<td>58.19%</td>
</tr>
<tr>
<td>Amazon.com, Inc.</td>
<td>$2.417 trillion</td>
<td>Dec. 11, 2024</td>
<td>2.18%</td>
<td>51.06%</td>
<td>80.88%</td>
</tr>
<tr>
<td>Alphabet Inc.</td>
<td>$2.374 trillion</td>
<td>Dec. 11, 2024</td>
<td>4.63%</td>
<td>38.41%</td>
<td>58.83%</td>
</tr>
<tr>
<td>Meta Platforms, Inc.</td>
<td>$1.597 trillion</td>
<td>Dec. 11, 2024</td>
<td>2.39%</td>
<td>79.09%</td>
<td>194.13%</td>
</tr>
<tr>
<td>Tesla, Inc.</td>
<td>$1.348 trillion</td>
<td>Dec. 11, 2024</td>
<td>4.68%</td>
<td>69.00%</td>
<td>101.72%</td>
</tr>
</tbody>
<tfoot>
<tr>
<td>Total</td>
<td>$18.233 trillion</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Median</td>
<td>$2.417 trillion</td>
<td></td>
<td></td>
<td>51.25%</td>
<td>80.88%</td>
</tr>
<tr>
<td>Average</td>
<td>$2.605 trillion</td>
<td></td>
<td></td>
<td>67.13%</td>
<td>111.68%</td>
</tr>
</tfoot>
</table>
</figure>
<h2 class="wp-block-heading">Latest Magnificent Seven Headlines</h2>
<ul>
<li><a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">Google Introduces AI Agent Prototype That Can Browse The Web</a></li>
<li><a href="https://www.benzinga.com/general/social-media/24/12/42446823/meta-platforms-suffers-major-outage-facebook-instagram-and-other-apps-down-for-thousands">Meta Platforms Suffers Major Outage: Facebook, Instagram And Other Apps Down For Thousands</a></li>
<li><a href="https://www.benzinga.com/tech/24/12/42443584/apple-strengthens-genai-with-ios-182-genmoji-image-playground-come-to-iphone">Apple Strengthens GenAI With iOS 18.2: Genmoji, Image Playground Come To iPhone</a></li>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42439155/broadcom-stock-jumps-on-apple-ai-chip-report-whats-going-on">Broadcom Stock Jumps On Apple AI Chip Report: What&#8217;s Going On?</a></li>
<li><a href="https://www.benzinga.com/news/legal/24/12/42444266/nvidia-loses-supreme-court-appeal-faces-continued-legal-battle-over-cryptocurrency-disclosure">Nvidia Loses Supreme Court Appeal, Faces Continued Legal Battle Over Cryptocurrency Disclosure</a></li>
<li><a href="https://www.benzinga.com/tech/24/12/42430502/tesla-tops-nvidia-and-apple-in-innovation-analyst-sees-significant-market-cap-upside-for-elon-musk-led-ev-giant">Tesla Tops Nvidia And Apple In Innovation: Analyst Sees Significant Market Cap Upside For Elon Musk-Led EV Giant</a></li>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42429325/robotaxi-exit-to-clear-the-way-for-gm-to-license-tesla-fsd-says-gary-black-move-will-save-the-mary-barra-led-company-1b-a-year">Robotaxi Exit To &#8216;Clear The Way&#8217; For GM To License Tesla FSD, Says Gary Black — Move Will Save The Mary Barra-Led Company $1B A Year</a></li>
<li><a href="https://www.benzinga.com/24/12/42428505/google-asks-ftc-to-kill-microsofts-monopoly-over-hosting-openai-technology-on-its-cloud-servers-report">Google Wants FTC To Dismantle Microsoft&#8217;s Exclusive Cloud Hosting Deal With OpenAI: Report</a></li>
<li><a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">Google Introduces AI Agent Prototype That Can Browse The Web</a></li>
</ul>
Image: Shutterstock

Large Cap

Sector ETFs

Magnificent Seven Tech Titans Hit $18.2 Trillion Market Cap: Alphabet, Amazon, Apple, Meta, Tesla Jointly Notch All-Time Highs

<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">An inline November inflation report</a> unleashed a surge of bullish momentum across markets on Wednesday.
Traders priced in near-certainty of a 25-basis-point rate cut at next week's Federal Reserve meeting, fueling optimism for a<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut"> more accommodating monetary policy.</a>
The Consumer Price Index rose by 2.7% year-over-year in November, matching expectations. Core inflation — excluding volatile items such as energy and food — remained steady at 3.3%.
Tech stocks took center stage as the Nasdaq 100 rallied 1.7%, notching a fresh record high and logging its best session in over a month. The so-called &#8220;Magnificent Seven&#8221; mega-cap stocks were the driving force behind the gains.
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) jumped 2.6%, its best performance since Nov. 6, eyeing its eighth positive session in the last nine trading days.
Six of the seven mega-cap tech giants hit record highs, with the group's combined market cap reaching a staggering $17.3 trillion. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was the sole exception among the elite names.
The S&amp;P 500 joined the rally, climbing 0.9% and nearing its all-time highs. Small-cap stocks added 0.7%, while the Dow Jones Industrial Average remained flat, lagging behind its peers.
Improving rate-cut expectations — fed futures now almost fully pricing in a 25-basis-point rate cut next week — supported gold, with the yellow metal rising 0.9% to 2,717 per ounce, heading for a fourth straight session of gains.
Bullish sentiment returned to the crypto market, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallying 4% to above $100,000 again, almost erasing losses from prior two sessions. 
Oil prices rose more than 2% on Wednesday, even as OPEC downgraded its global demand outlook for both 2023 and 2024.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,744.29</td>
<td>1.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,088.08</td>
<td>0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,398.19</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,268.39</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120224&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.9% to $608.33.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $444.28.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.8% to $529.86.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.9% to $238.38.</li>
<li>The&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, both rising 1.6%; the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) rallied 4.4% after the tech giant announced the launch of <a href="https://www.benzinga.com/media/24/11/42030331/heres-when-google-gemini-could-be-integrated-with-apple-intelligence">Gemini 2.0 AI model</a>.</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) soared 5.7%, ahead of its earnings report slated for <a href="https://www.benzinga.com/24/12/42396941/broadcom-likely-for-upside-backed-by-ai-pipeline-market-recovery-vmware-synergy-as-key-ai-semiconductor-and-custom-chip-supplier">Thursday after market closes</a>.</li>
<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) dropped 6.5% after surging 17% on Tuesday, following <a href="https://www.benzinga.com/24/12/42431136/walgreens-stock-pulls-back-326-in-pre-market-trading-as-wall-street-veterans-debate-private-equity-deal-value-amid-sycamore-partners-takeover-talks">reports of a $7.5 billion sale</a> negotiation with Sycamore Partners.</li>
<li>Gamestop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) rallied over 9% in <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">reaction to earnings report</a>.</li>
<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) rose 0.4% in anticipation of its quarterly results, set to be released after market close.</li>
</ul>
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/12/42444266/nvidia-loses-supreme-court-appeal-faces-continued-legal-battle-over-cryptocurrency-disclosure">Nvidia Loses Supreme Court Appeal, Faces Continued Legal Battle Over Cryptocurrency Disclosure</a></li>
</ul>
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Nasdaq 100 Rallies To Record Highs, Magnificent 7 Market Cap Tops $17 Trillion, Bitcoin Soars To $100,000: What's Driving Markets Wednesday?

Aswath Damodaran, finance professor at New York Univerisity&#8217;s Stern School of Business, told Bloomberg Television on Monday that he recommends buying any of the Magnificent Seven <a href="https://www.benzinga.com/tech/24/11/42143676/which-magnificent-7-stock-should-doj-target-next-benzinga-poll-finds-over-50-say">stocks on dips. </a>
What To Know: Corrections will occur and "I'd suggest that when that happens you find a way to add at least one, maybe two or three of these companies, because these are so much part of what drives the economy and the market," Damodaran said.
Read Next: <a href="https://www.benzinga.com/markets/24/12/42300548/art-cashins-lessons-cuban-crisis-trades-to-timeless-wall-street-wit">Art Cashin&#8217;s Lessons: Cuban Crisis Trades To Timeless Wall Street Wit</a>
It has been difficult to buy the dip on a Magnificent Seven stock as the tech giants have climbed throughout 2024. The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) offers equal-weight exposure to the Magnificent Seven stocks and is up nearly 60% year-to-date. 
"As a value investor, I have never seen cash machines as lucrative as these companies are," Damodaran said. "And I don't see the cash machine slowing down."
Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continue jockeying for the top position as the largest company in terms of market capitalization. Apple currently holds the largest market cap at $3.67 trillion, while Nvidia is in second place with a market cap of $3.44 trillion. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) remains in third with a market capitalization of $3.21 trillion. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), formerly the laggard of the seven, has gained more than 40% over the past month. CEO Elon Musk has grown into a trusted advisor of President-elect Donald Trump and investors are betting Tesla <a href="https://www.benzinga.com/news/global/24/12/42283558/elon-musks-doge-co-lead-already-targeting-tesla-rivals-vivek-ramaswamy-flags-stellantis-75b-loan-days-after-criticizing-rivians-66b-loan">will benefit</a> under the Trump administration. 
Though not quite a dip, Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) shares have remained flat over the past month as the company faces ongoing litigation and <a href="https://www.benzinga.com/government/regulations/24/11/42143421/staggering-google-breakup-proposal-from-doj-a-kitchen-sink-moment-alphabet-analyst">the potential sale</a> of its Chrome browser in a federal antitrust lawsuit. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273676/walmart-target-bath-body-works-stand-out-as-black-friday-winners-analysts">Walmart, Target, Bath &amp; Body Works Stand Out As Black Friday Winners: Analysts</a></li>
</ul>
Photo: Shutterstock

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What's Going On With Magnificent 7 Stocks?

Over half of the Magnificent 7 stocks have outperformed the S&amp;P 500 in 2024 and all seven have produced higher five-year returns. Benzinga readers pick which Magnificent 7 stock could have the best 2025 and if anyone can catch Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which continues to<a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam"> beat analyst estimates.</a>
What Happened: Nvidia stock is up 199% year-to-date in 2024 and could have more upside ahead according to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42119226/nvidia-analysts-see-stock-best-positioned-in-ai-not-worried-about-guidance-all-systems-go-for-blackwell-ramp">analyst price targets </a>after the company's third-quarter beat and raised guidance.
Benzinga recently asked readers if any of the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent 7 stocks</a> could post stronger stock growth than Nvidia in the next year.
"In 2025, which Magnificent 7 stock could outpace Nvidia in growth?" Benzinga asked.
The results were:
<ul>
<li>None – Nvidia will dominate: 48%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 27%</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 8%</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 7%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 6%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 3%</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 2%</li>
</ul>
The poll found the near-majority predicting Nvidia will have the strongest growth in 2025 and dominate the Magnificent 7 stocks once again.
Coming in second place, and the stock that could have the best chance to pass Nvidia according to readers, was Tesla at 27%. This might not be a huge surprise given Tesla's five-year return is the next closest to Nvidia's when looking at the Magnificent 7 stocks.
Here are the current year-to-date and five-year returns of the Magnificent 7 stocks:
<ul>
<li>NVDA: YTD +199.1%, 5-Year +2,634.2%</li>
<li>TSLA: YTD +38.2%, 5-Year +1,446.2%</li>
<li>AMZN: YTD +31.3%, 5-Year +125.5%</li>
<li>META: YTD +61.3%, 5-Year +181.0%</li>
<li>GOOG: YTD +19.7%, 5-Year +158.0%</li>
<li>MSFT: YTD +11.4%, 5-Year +176.2%</li>
<li>AAPL: YTD +23.3%, 5-Year +249.7%</li>
</ul>
Perhaps most surprising in the poll was Apple finishing last despite having the third-best stock performance over the last five years.
Compare the returns above to the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, which is up 25.3% year-to-date and up 90.4% over the last five years.
Meanwhile, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which invests in the Magnificent Seven stocks, is up 55.7% year-to-date. The ETF has not been around for five years to track that performance. 
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Why It's Important: A <a href="https://www.benzinga.com/tech/24/11/42093025/will-nvidia-deliver-a-blowout-beat-in-q3-poll-says-maybe-not-but-over-half-see-stock-clearing-150">recent Benzinga poll</a> asked readers to predict if Nvidia would beat, miss or meet earnings estimates in the third quarter.
The results were:
<ul>
<li>Meets expectations: 45%</li>
<li>Blowout Beat: 42%</li>
<li>Misses expectations: 13%</li>
</ul>
The majority of Benzinga readers expected the company to meet or beat the estimates from analysts. While more readers expected the company to meet estimates, 42% believed the company would beat estimates Wednesday.
Benzinga readers also predicted what an earnings beat could mean for Nvidia stock going forward.
&#8220;If Nvidia shatters expectations, how high could its stock go by the end of 2024?&#8221; Benzinga asked.
The results were:
<ul>
<li>$150 to $180: 55%</li>
<li>$180 to $200: 26%</li>
<li>Above $200: 18%</li>
</ul>
Nvidia shares traded down in after-hours Wednesday before reversing to the green in early Thursday trading. The stock is down 0.5% to $145.20 Thursday at the time of writing.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/08/40602271/ready-to-retire-on-a-single-magnificent-7-stock-poll-reveals-top-pick-and-its-not-apple" target="_blank" rel="noreferrer noopener">Ready To Retire On A Single Magnificent 7 Stock? Poll Reveals Top Pick —And It's Not Apple</a></li>
</ul>
The study was conducted by Benzinga from Nov. 19 through Nov. 20, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 128 adults.
Image: Unsplash

Could Another Magnificent 7 Stock Beat Nvidia In 2025? Poll Says Not Likely, 27% Pick This Potential Winner

Investors are zeroing in on what <a href="https://www.benzinga.com/general/politics">potential political outcomes</a> in the U.S. elections Tuesday could mean for the markets.
WisdomTree's Global CIO, Jeremy Schwartz and Senior Economist Jeremy Siegel have shared insights on how a Republican or Democratic win could shape sectors across both the equity and bond markets.
Here's what WisdomTree sees on the horizon.
<h2 class="wp-block-heading">Bond Market Volatility: How Policy Could Shape Yields</h2>
Siegel said bond markets are primed for volatility, with each election outcome pointing to different scenarios for interest rates and yields. A Republican sweep, accompanied by tax cuts and heightened fiscal spending, could push bond yields upward by 20 basis points or more, he said. In this scenario, investors might brace for inflationary pressures and potentially tighter monetary policy, which would counterbalance any short-term equity gains.
On the flip side, a Democratic sweep is seen as a stabilizing force for bonds, with expectations for moderated spending and pro-growth fiscal restraint. 
WisdomTree's Kevin Flanagan, head of fixed income strategy, notes that Democratic policies might offer a predictable, low-volatility environment that helps maintain steady rates and tempers inflation concerns.
A divided government could yield the "best case" for bonds, creating stability through gridlock that limits sweeping fiscal changes and curbs deficit growth.
<h2 class="wp-block-heading">Equity Market Winners: Mag 7 In Focus Under GOP, Infrastructure &amp; Clean Energy For Democrats</h2>
For equity markets, each scenario presents distinct opportunities, particularly in the growth-oriented and infrastructure sectors. Under a Republican administration, WisdomTree expects an initial boost in stocks like the Magnificent Seven: (Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
The Magnificent Seven stocks could be driven by extended tax cuts, reduced regulation, and potential capital gains exemptions.
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) provides exposure to the Magnificent Seven stocks along with other popular tech-heavy ETFs such as the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), the Vanguard Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
This favorable backdrop for the tech-heavy sector could stimulate momentum, although Siegel cautions that rising yields might cap equity gains by pressuring valuations.
In contrast, a Democratic sweep would likely favor sectors tied to clean energy and infrastructure. With a focus on the Inflation Reduction Act, the Democratic agenda is expected to channel substantial support into solar, hydrogen and renewable energy projects. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) provides exposure to solar stocks.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/11/41722922/trump-vs-harris-evgo-cleveland-cliffs-plug-power-nucor-brace-for-2024-election-impact">Trump Vs. Harris: EVgo, Cleveland-Cliffs, Plug Power, Nucor Brace For 2024 Election Impact</a>
This shift would likely benefit clean energy stocks while weighing on small-cap stocks with high U.S. revenue exposure, as they would face the most significant earnings impact from higher corporate tax rates. 
Investors in clean energy ETFs such as the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NYSE">GRID</a>) and those invested in small-cap stocks via ETFs such as the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) or the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) should be wary of their holdings.
According to Wisdom Tree, Democratic leadership could also benefit international markets, as the reduced likelihood of higher tariffs might ease trade concerns and foster demand.
<h2 class="wp-block-heading">Navigating The Election Landscape</h2>
Beyond direct impacts on stocks and bonds, WisdomTree suggests that a blend of strategies, such as private credit, inflation hedges like gold, and international exposure with currency hedging, may help investors manage market uncertainty.
Trade policies, inflation, and the Federal Reserve's trajectory are all likely to play roles in shaping post-election strategies, underscoring the value of a diversified approach.
As the U.S. awaits the election results, WisdomTree's analysis highlights a divided outlook for investors. Whether the election ushers in policies that lift the Magnificent Seven stocks or bolsters the bond market, each scenario brings unique opportunities and risks to watch in the weeks ahead.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Republican Win Likely To Lift Magnificent 7 Stocks, Democratic Sweep 'Better For Bonds,' Says WisdomTree

The U.S. stock market experienced a setback at the end of October, breaking a five-month winning streak as election uncertainties and mixed tech <a href="https://www.benzinga.com/earnings">earnings dampened risk sentiment</a>.
A key measure of market turbulence, the CBOE Volatility Index, or VIX, surged by 34% last month, marking the third-largest increase for an October <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41665265/vix-index-notches-third-strongest-october-spike-in-an-election-year-s-p-500-snaps-5">in an election year.</a>
Tech giants' earnings were underwhelming, except for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). None of the other &#8220;Magnificent Seven&#8221; companies posted positive weekly performance. As a result, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) fell nearly 2% for the week. This marks the worst weekly performance in two months.
Among mega-cap companies, the top performers for the week were Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), both rising approximately 9%. Booking also marked the strongest weekly gains since August 2022. 
The main laggards were Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 9% and 8%, respectively, for the week. 
On the macroeconomic front, the U.S. economy saw a surprising slowdown in job growth in October, with <a href="https://www.benzinga.com/news/econ-s/24/11/41684710/us-economy-adds-only-12-000-jobs-in-october-sharply-misses-estimates-as-hurricane-strikes-pummel-hir">nonfarm payrolls increasing by just 12,000</a>—nearly a four-year low and well below the expected 113,000.
Factors such as hurricanes and strikes likely contributed to the hiring slowdown, while unemployment held relatively steady, indicating no significant rise in layoffs.
The labor market report has strengthened expectations for Federal Reserve rate cuts. Markets are fully pricing in a 25-basis-point cut at Thursday's meeting and assigning an 85% probability to a similar cut at the Fed&#8217;s final meeting of the year in of December.
<h3 class="wp-block-heading">State Betting Odds</h3>
As the 2024 U.S. presidential election approaches, state-by-state betting odds reveal a tight race between Donald Trump and Kamala Harris, with key battleground states like Pennsylvania, Michigan, and Arizona showing narrow margins, making them pivotal <a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">in the final outcome.</a>
<h3 class="wp-block-heading">Gold ETF Surge</h3>
The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw $1.8 billion in inflows during October, its highest in over two years. Rising investment demand continues pushing gold toward record highs as investors turn to this safe-haven asset at a time of political <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-">upheaval and fiscal uncertainty.</a>
Ford Halts F-150 Lightning Production
Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is pausing F-150 Lightning production from Nov. 18 to Jan. 6, responding to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)'s Cybertruck sales surge. The move aims to recalibrate production with demand and improve profitability for <a href="https://www.benzinga.com/news/24/11/41677673/ford-f-150-lightning-pickup-truck-production-to-be-halted-temporarily-after-teslas-cybertruck-races">the Michigan-based automaker.</a>
Now Read:
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<li><a href="https://www.benzinga.com/general/24/11/41693751/biden-can-blame-boeing-for-massive-jobs-data-miss">Biden Can Blame Boeing For Massive Jobs Data Miss</a></li>
</ul>
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Earnings

Commodities

BKNG

CHTR

Market Volatility Soars Ahead Of Elections, Tech Earnings Mixed, Strikes And Hurricanes Knock Employment Down: This Week In The Markets

A hiring freeze in October lifted market expectations for a Federal Reserve interest rate cuts, providing relief to U.S. <a href="https://www.benzinga.com/news/econ-s/24/11/41684710/us-economy-adds-only-12-000-jobs-in-october-sharply-misses-estimates-as-hurricane-strikes-pummel-hir">stocks after Thursday's decline</a>. 
The U.S. economy added only 12,000 jobs in October, 211,000 fewer than in September. This marked the lowest monthly pace since December 2020 and sharply missed estimates of 113,000.
Market pricing now reflects a full probability of a 25-basis-point rate cut at next week's Federal Reserve meeting, with the likelihood of another cut in December surging to 85%, according to the CME FedWatch tool.
<h2 class="wp-block-heading">Hurricanes, Strikes Knock October Employment Down</h2>
Beyond the dismal October employment figures, which suggest a recession-like scenario, factors such as hurricanes and strikes have significantly disrupted hiring across the nation.
Hurricane Helene hit Florida's Gulf Coast on Sept. 26, followed by Hurricane Milton on Oct. 9, prompting widespread evacuations and disrupting multiple economic sectors.
"It is likely that payroll employment estimates in some industries were affected by the hurricanes; however, it is not possible to quantify the net effect on the over-the-month change in national employment, hours, or earnings estimates," the Bureau of Labor Statistics (BLS) stated in its report.
Additionally, layoffs surged in manufacturing, rising to 46,000 — the highest since 2009, excluding the pandemic months of March and April 2020. "Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing largely due to strike activity," the BLS added.
Despite stagnant job growth in October, the unemployment rate held steady at 4.1%, indicating that businesses remain committed to retaining their workforce.
<h3 class="wp-block-heading">Equity ETFs Rise On Rising Rate-Cut Bets</h3>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500 index, rebounded 0.7% after Thursday&#8217;s 1.9% slump. </li>
<li>The tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), replicating the Nasdaq 100, was 0.6% higher. </li>
<li>Small caps outperformed, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soaring 1.2%. </li>
<li>The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) rose 1.4%. On Thursday, it tumbled 3.9%, marking the sharpest 1-day drop since late July.</li>
<li>Sector-wise, the Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) led gains, up over 2%, fueled by a 6% post-earnings rally from Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).</li>
<li>The Direxion Daily AMZN Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZU#NASDAQ">AMZU</a>) skyrocketed by 13%. </li>
<li>Rising expectations for Fed rate cuts fueled gains in real estate industries, with the iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>) rising 1.8%. </li>
<li>Semiconductors rebounded after tumbling by 3.9% on Thursday. The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rose 1.6%. Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) was among the best performers following better-than-expected results. </li>
<li>The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – the biggest physically-backed gold ETF – also rose 0.5%, rebounding after Thursday&#8217;s 1.6% decline. </li>
<li>The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks West Texas Intermediate (WTI) crude performance, gained 1% amid rising geopolitical tensions in the Middle East following Iran&#8217;s retaliatory attack on Israel. </li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-">Biggest Gold ETF Posts Highest Monthly Inflows In 2.5 Years As Investors Rush To Safe Haven Ahead Of Presidential Election</a></li>
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Photo: Shutterstock

AMZU

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iShares PHLX SOX Semiconductor Sector Index Fund

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Stocks Rebound After Selloff As October Hiring Slump Fuels Interest Rate Cut Bets: 10 ETFs To Watch Friday

The Federal Reserve's decision to cut interest rates could positively impact stocks, consumers, and<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a"> several key sectors.</a>
Benzinga readers were recently asked to pick which Magnificent Seven stocks could benefit the most from the interest rate cut.
What Happened: The Federal Reserve's decision to<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead"> cut interest rates</a> could benefit small-cap stocks the most, with loans cheaper for companies that need capital to continue growing.
Interest rate cuts could also benefit consumers as mortgage rates decline, auto loans get cheaper and credit card fees get lowered as a trickle-down impact from the Federal Reserve's decision.
Along with small cap stocks, the overall stock market could benefit including the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent Seven stocks </a>that are among the most valuable and most-followed stocks in the U.S.
"Which Magnificent 7 stock will perform the best during the rate-cutting cycle," Benzinga recently asked readers.
Here are the results:
<ul>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 24%</li>
<li>NVIDA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 21%</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 19%</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 13%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 8%</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 8%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 8%</li>
</ul>
Tesla won the poll as the stock that will perform the best during the rate-cutting cycle with nearly a quarter of the vote. The stock could be popular given auto loans could come down in price and consumers having less concerns about higher prices all around could mean new auto purchases become more of a possibility.
Investors may also have picked Tesla in the poll as it is the Magnificent Seven stock with the worst year-to-date and one-year performance.
Here are the current performances of the Magnificent Seven stocks:
<ul>
<li>Tesla: Year-to-Date +2.5%, 1-Year +3.1%</li>
<li>Nvidia: Year-to-Date +157.6%, 1-Year +193.9%</li>
<li>Amazon: Year-to-Date +28.6%, 1-Year +46.9%</li>
<li>Apple: Year-to-Date +21.4%, 1-Year +28.0%</li>
<li>Microsoft: Year-to-Date +16.5%, 1-Year +36.0%</li>
<li>Meta: Year-to-Date +64.7%, 1-Year +89.6%</li>
<li>Alphabet: Year-to-Date +17.6%, 1-Year +23.9%</li>
</ul>
The Magnificent 7 stocks have mostly outperformed the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index. The SPY is up 20.8% year-to-date and has climbed 32.1% over the last year, beating three Magnificent 7 stocks year-to-date and three stocks over the previous year.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
What's Next: With less than three months left in 2024, investment appetite for Magnificent Seven stocks could change, with investors looking for small-cap winners or stocks that could perform well after the 2024 election.
Benzinga readers recently voted Nvidia as <a href="https://www.benzinga.com/top-stories/24/08/40602271/ready-to-retire-on-a-single-magnificent-7-stock-poll-reveals-top-pick-and-its-not-apple" target="_blank" rel="noopener">their top Magnificent 7 stock </a>to retire on, with 33% of the vote. Apple and Microsoft ranked second and third, with 21% and 17%, respectively.
In August, Benzinga readers said the Magnificent Seven stock they were most <a href="https://www.benzinga.com/exclusives/24/08/40403222/exclusive-which-magnificent-7-stock-would-investors-put-1-000-in-today-44-of-benzinga-readers-pick-t">likely to invest $1,000</a> in was Nvidia at 44% of the vote, followed by Apple (13%) and Amazon (11%).
The different polls show varying interest in the Magnificent Seven stocks depending on the investment angle. Tesla did not rank in the top three of recent polls until investors were asked about the investment angle of rate cuts.
For investors looking to get exposure to all the Magnificent Seven stocks, there is also the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which holds the seven companies. The ETF is up 45% year-to-date and up over 57% in the past year.
The study was conducted by Benzinga Sept. 19 through Sept. 20, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 210 adults.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/09/41025936/musk-zuckerberg-cook-cuban-or-thiel-whos-the-most-influential-tech-leader-in-2024-election-benzi">Musk, Zuckerberg, Cook, Cuban Or Thiel: Who&#8217;s The Most Influential Tech Leader In 2024 Election? Benzinga Readers Respond, And It&#8217;s Not Even Close</a></li>
</ul>
Photo: gguy/Shutterstock.com

Education

After Fed Rate Cuts, Is Tesla, Nvidia, Apple, Or Amazon The Best Investment? Poll Reveals Top Magnificent 7 Stock

The first trading session of September started with a widespread selloff across risk assets, as traders took a cautious approach ahead of what is historically a volatile <a href="https://www.benzinga.com/24/09/40676774/september-market-seasonality-why-this-month-is-historically-the-toughest-for-investors">month for global markets.</a>
At 1 p.m. in New York, the S&amp;P 500 had dropped 1.6%, while small-cap stocks nosedived 2.7%. The Magnificent Seven, tracked by the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), offered no safe haven, declining 2.3%.
The CBOE Volatility Index (VIX), often referred to as Wall Street&#8217;s &#8220;fear gauge,&#8221; surged by 20%, reflecting heightened anxiety among investors.
Tech stocks were hit hard, with the Nasdaq 100 down 2.5%, on track for its worst one-day drop since Aug. 1. 
Tuesday&#8217;s selloff was reminiscent of the market turmoil caused by the unwinding of the yen-dollar carry trade earlier in the summer. This time, the yen jumped 0.8% against the dollar after hawkish comments from <a href="https://www.benzinga.com/markets/asia/24/09/40692633/japanese-yen-rallies-on-bank-of-japans-rate-hike-pledge-us-manufacturing-activity-contraction">Bank of Japan Governor Kazuo Ueda overnight</a>.
Despite the yen&#8217;s strength, the U.S. dollar gained 0.2% against a basket of other currencies, buoyed by broader market movements.
On the economic front, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40689835/us-manufacturing-activity-extends-contraction-for-fifth-month-demand-continues-to">U.S. manufacturing data for August showed a deeper-than-expected contraction</a>, with the employment index indicating mounting challenges ahead of a crucial jobs report due later in the week.
Treasury yields fell as the weak manufacturing data fueled speculation of potential interest rate cuts by the Federal Reserve. The yield on the two-year Treasury note, which is sensitive to policy changes, dipped 3 basis points, while the 10-year Treasury note yield dropped 7 basis points. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 1.2%.
In commodities, gold prices slipped 0.5%, while oil prices plunged more than 4%, marking the steepest one-day decline since October 2023. West Texas Intermediate (WTI) crude oil fell to levels not seen since early January 2024, driven by concerns over weaker demand and expectations of increased OPEC supply next month.
Cryptocurrency markets also faced pressure, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 2.5% as overall sentiment remained weak.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day change (%)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,057.56</td>
<td>-1.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,557.61</td>
<td>-1.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,102.46</td>
<td>-2.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,160.05</td>
<td>-2.7%</td>
</tr>
<tr>
<td>CBOE VIX</td>
<td>18.54</td>
<td>19.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:15 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1">Benzinga Pro </a>data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.5% lower to $555.15.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 1.1% to $411.80.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 2.4% to $45.16.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) sunk 2.6% to $214.30.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up by 1%, while the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) tumbled 3.5%. </li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Among mega-cap stocks, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) plummeted 7.6%, marking the worst one-day drop since April.</li>
<li>Other major chipmakers also tanked including Marvell Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), down 7.3%, Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), down 6.5%, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), down 6%, and Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), down 5.7%. </li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell 7.5% amid news that the stock might be removed from the Dow Jones index.</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) tumbled almost 8% after Wells Fargo downgraded the stock to an Underweight rating and slashed its price target.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40691352/stock-of-the-day-berkshire-hathaway-trades-above-usual-range-time-to-sell-the-warren-buf">Stock Of The Day: Berkshire Hathaway Trades Above Usual Range — Time To Sell The Warren Buffett Stock?</a>
Bear market illustration generated using artificial intelligence via Dall-E.

Bonds

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Wall Street Tumbles, Yen Surges, Oil Sinks Below $70, VIX Spikes As Traders Brace For Volatile Month: What's Driving Markets Tuesday?

The U.S. dollar strengthened across the board on Friday after newly released economic data suggested the Federal Reserve might not rush to <a href="https://www.benzinga.com/news/large-cap/24/08/40639345/traders-scale-back-bets-on-50-basis-point-september-rate-cut-ahead-of-fridays-key-fed-inflation-ga">implement large rate cuts.</a>
Meanwhile, Wall Street took comfort in data highlighting the ongoing strength of U.S. consumers, who continue to be a vital driver of economic growth.
What Happened: The Federal Reserve&#8217;s preferred inflation gauge, the Personal Consumption Expenditure (PCE) Price Index, halted its downward trend in July, though it remained below economists&#8217; expectations.
The index held steady at a 2.5% year-over-year rate, the same as in June, slightly under the anticipated increase to 2.6%.
When volatile items like food and energy were excluded, the core PCE Price Index also remained unchanged at 2.6% on an annual basis, missing forecasts of a rise to 2.7%.
In addition to the inflation data, stronger-than-expected reports on personal income and spending further underscored the economy&#8217;s robustness. 
Personal income rose by $75.1 billion, or 0.3% month-over-month in July, surpassing both the previous and expected increases of 0.2%.
On Thursday, government data revealed the <a href="https://www.benzinga.com/markets/equities/24/08/40627044/us-dollar-oil-prices-tech-stocks-rise-as-gdp-roars-by-3-in-q2-bonds-yen-slip-as-bets-for-large-r">U.S. economy expanded at an upwardly revised 3%</a> annualized rate in the second quarter, a significant acceleration from the 1.4% growth in the first quarter. This revision was largely driven by a surge in consumer spending, which nearly doubled to 2.9%, up from 1.5% in the first quarter.
Why It Matters: The softer-than-expected PCE report suggests the Federal Reserve is likely to proceed with gradual rate cuts, which market participants have already largely priced in.
The latest data also signals less urgency for outsized or rapid cuts, as the underlying strength of the economy mitigates recession concerns that had emerged earlier in the month.
As a result, expectations for a 50-basis-point rate cut in September have diminished over the past two sessions, with market-implied odds dropping to 30%, according to the CME FedWatch tool.
<h1 class="wp-block-heading">Market Reactions</h1>
<ul>
<li>The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), which tracks the U.S. dollar against a basket of currencies, gained 0.2% minutes after the market opened Friday.</li>
<li>The stronger dollar put pressure on gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), which fell 0.2%.</li>
<li>Small-cap stocks, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), were 0.4% higher.</li>
<li>The tech-heavy Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), rallied 0.9%.</li>
<li>Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, climbing 0.8%.</li>
<li>The Magnificent Seven stocks, tracked by the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), rose 0.4%.</li>
<li>Semiconductors rallied substantially, with the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) up 2.2%, buoyed by positive earnings report from MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) </li>
</ul>
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Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. 
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
Photo: Shutterstock

Forex

PowerShares DB US Dollar Index Bullish Fund

Dollar Surges As Doubts Over Aggressive Rate Cuts Grow, Wall Street Climbs On Consumer Strength: 7 ETFs React To Fed's Inflation Data

Investors have many options when it comes to <a href="https://www.benzinga.com/topic/retirement">investing for retirement.</a>
Among the available strategies are to invest in index funds, mutual funds, ETFs or choose individual stocks. Benzinga recently asked which of the Magnificent 7 stocks was the best option for retirement.
What Happened: The <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent 7 stocks</a>, a select group of highly valuable and widely recognized investments, are often associated with high-growth financials and leading companies in the technology sector.
The Magnificent 7 stocks are Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
"If you had to invest your entire retirement account into just one Magnificent 7 stock, which would you choose?" Benzinga asked.
Here are the results:
<ul>
<li>Nvidia: 33%</li>
<li>Apple: 21%</li>
<li>Microsoft: 17%</li>
<li>Amazon: 14%</li>
<li>Tesla: 7%</li>
<li>Alphabet: 4%</li>
<li>Meta Platforms: 4%</li>
</ul>
The results are hardly surprising given Nvidia's status as one of the most talked-about growth stories in recent years, with the stock significantly outperforming over the past year.
Apple ranked second in the poll and comes as the company is among the top performers over the last five years and has a loyal fan base.
Read Also: <a href="https://www.benzinga.com/top-stories/24/08/40531771/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
Why It's Important: The Magnificent 7 stocks have outperformed the broader stock market over the last five years and 10 years based on the returns compared to the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500.
Here's a look at the five-year and 10-year returns of the Magnificent 7 stocks:
<ul>
<li>Nvidia: 5-Year +2,962%, 10-Year +25,603%</li>
<li>Apple: 5-Year +337%, 10-Year +822%</li>
<li>Microsoft: 5-Year +200%, 10-Year +802%</li>
<li>Amazon: 5-Year +95%, 10-Year +900%</li>
<li>Tesla: 5-Year +1,291%, 10-Year +1,031%</li>
<li>Alphabet: 5-Year +177%, 10-Year +451%</li>
<li>Meta: 5-Year +180%, 10-Year +572%</li>
</ul>
For comparison, the SPDR S&amp;P 500 ETF is up 92% over the last five years and up 179% over the last 10 years. Each of the Magnificent 7 stocks beats the ETF for both time periods, with many more than doubling its returns.
Nvidia recently topped a poll on which Magnificent 7 stock Benzinga readers<a href="https://www.benzinga.com/exclusives/24/08/40403222/exclusive-which-magnificent-7-stock-would-investors-put-1-000-in-today-44-of-benzinga-readers-pick-t"> would invest $1,000 </a>in today. It was Amazon.com that topped Nvidia in a poll on which Magnificent 7 stock <a href="https://www.benzinga.com/exclusives/24/08/40285533/exclusive-which-magnificent-7-stock-could-best-weather-a-recession-benzinga-readers-split-on-pick-wi">could best weather a recession. </a>
For investors looking to get exposure to all the Magnificent 7 stocks, there is also the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which holds the seven companies.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/08/40129993/poll-finds-over-70-believe-2024-stock-market-peak-not-yet-reached">Poll Finds Over 70% Believe 2024 Stock Market Peak Not Yet Reached</a></li>
</ul>
The study was conducted by Benzinga on Aug. 26 and Aug. 27, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 112 adults.
Photo: Shutterstock

Ready To Retire On A Single Magnificent 7 Stock? Poll Reveals Top Pick —And It's Not Apple

Over the past year, investors have often turned to the market leaders, which among large cap companies are often the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent 7 stocks.</a>
A new Benzinga poll looks at which of the seven stocks are the most popular with investors today.
What Happened: Six of the seven Magnificent 7 stocks are up year-to-date in 2024 and several of the names are believed to be companies that could be<a href="https://www.benzinga.com/exclusives/24/08/40285533/exclusive-which-magnificent-7-stock-could-best-weather-a-recession-benzinga-readers-split-on-pick-wi"> resilient against a potential recession.</a>
Benzinga readers were asked which of the seven stocks they would invest in today.
"If you had $1,000 to invest in a Magnificent 7 stock right now, which one would you choose?" Benzinga asked.
The results were:
NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 44%
Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 13%
Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 11%
Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 10%
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 9%
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 8%
Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 6%
The results of the poll showed a clear preference for Nvidia as the top place to invest $1,000 in today. The race for second place was much closer with Apple ranking slightly ahead of Amazon and Microsoft.
Potentially surprising to some, Alphabet ranked last in the poll with 6% of the vote, which could be due to recent concerns of a company breakup with an ongoing battle with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40378964/google-stock-swings-on-doj-investigation-analyst-says-googl-is-worth-more-in-pieces">the U.S. Department of Justice.</a>
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent081524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The latest Benzinga poll shows Nvidia as a winner once again. The company was picked as the top Magnificent 7 stock to weather a recession, tying with Amazon for the victory. Both Nvidia and Amazon received 27% in the previous Benzinga poll.
Benzinga readers picked Meta, Alphabet and Tesla as the worst stocks to weather a recession. All three stocks also ranked last in this poll, suggesting that investors are not in favor of these three large-cap stocks during the current economic climate.
When selecting where to put $1,000 in today, investors could also be looking at past performance. Here's a look at the year-to-date and five-year performances of the Magnificent 7 stocks as of Aug. 15:
<ul>
<li>Alphabet: +15.3% YTD, +176.6% 5-Year</li>
<li>Amazon: +16.0% YTD, +98.4% 5-Year</li>
<li>Apple: +13.0% YTD, +342.8% 5-Year</li>
<li>Meta: +52.1% YTD, +194.8% 5-Year</li>
<li>Microsoft: +11.4% YTD, +212.7% 5-Year</li>
<li>Nvidia: +146.6% YTD, +3,154.5% 5-Year</li>
<li>Tesla: -14.0% YTD, +1,359.8% 5-Year</li>
</ul>
A look at the performance shows that readers picked the top-performing Magnificent 7 stock of the past five years to put their $1,000 investment in. Tesla, which has the second-best 5-year performance ranked near the bottom in the new poll, suggesting investors don't see the same upside ahead.
For investors looking for exposure to the Magnificent 7 stocks without having to choose one or two winners, there is the&nbsp;Roundhill Magnificent Seven ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which holds all seven stocks.
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/24/08/40284758/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</ul>
The study was conducted by Benzinga on Aug. 13 and Aug. 14, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 174 adults.
Photo: Shutterstock

EXCLUSIVE: Which Magnificent 7 Stock Would Investors Put $1,000 In Today? 44% Of Benzinga Readers Pick This Company

A large drop in the market on Monday sparked fears of a recession. While the stock market has recovered in the days since, investors are factoring concerns of a recession and high valuations for stocks including the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent 7 members.</a>
What Happened: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which follows the S&amp;P 500 Index, and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq 100 <a href="https://www.benzinga.com/news/large-cap/24/08/40166207/how-to-navigate-market-volatility-5-etfs-that-strengthen-your-portfolio-during-stock-turmoil">had large drops</a> of 3% due to economic uncertainties and global fears.
With many stocks down on Monday, the Magnificent 7 stocks were also hit and some investors chose to buy the dip on these stocks that have typically outperformed the broad market.
Benzinga asked readers their opinion on the outlook for the Magnificent 7 stocks.
"Which of the following Magnificent 7 stocks do you believe will be best able to weather a recession?" Benzinga asked.
Here are the results:
Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 27%
NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 27%
Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 22%
Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 8%
Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 6%
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 6%
Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 4%
The poll found readers think Amazon and Nvidia are best positioned to weather a potential recession. Amazon is a leader in e-commerce and has its AWS cloud business that has increased revenue and earnings. Nvidia has been a top-performing stock in recent years and is viewed as a leader in artificial intelligence by many.
Ranking close behind the winners was Microsoft, a company that operates in cloud, search, video games, business software and more segments.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/08/40259139/tech-stocks-rally-after-5-day-slump-as-recession-panic-eases-nasdaq-100-movers-to-watch-thursday">Tech Stocks Rally After 5-Day Slump As Recession Panic Eases: Nasdaq 100 Movers To Watch Thursday</a>
Why It's Important: While fears of a recession have shrunk in the days since Monday, investors should be aware that August and September are<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/07/40025773/bad-news-ahead-for-investors-august-september-are-worst-two-months-over-past-20-years-"> traditionally weak months </a>for the stock market.
Investors could be looking for hedges against market underperformance or for the coming years of growth from trends such as artificial intelligence.
Here's a look at the year-to-date, one-year and five-year performances of the Magnificent 7 stocks as of Aug. 8:
<ul>
<li>Apple: +11.0% YTD, +19.5% 1-Year, +320.2% 5-Year</li>
<li>Microsoft: +7.7% YTD, +22.7% 1-Year, +199.3% 5-Year</li>
<li>Alphabet: +16.9% YTD, +24.1% 1-Year, +177.7% 5-Year</li>
<li>Amazon: +9.4% YTD, +16.9% 1-Year, +85.4% 5-Year</li>
<li>Nvidia: +112.4% YTD, +131.6% 1-Year, +2,557.9% 5-Year</li>
<li>Meta: +42.9% YTD, +59.7% 1-Year, +165.9% 5-Year</li>
<li>Tesla: -19.6% YTD, -20.5% 1-Year, +1,184.4% 5-Year</li>
</ul>
For comparison, the SPDR S&amp;P 500 ETF Trust is up 11.5% year-to-date, up 15.1% over the last year and up 80.5% over the past five years. Only three of the Magnificent 7 stocks are ahead of the SPY year-to-date.
Looking longer-term, six of the seven Magnificent 7 stocks have outperformed the SPY over the past year and all seven have outperformed the SPY over the past five years.
Benzinga <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/08/40129993/poll-finds-over-70-believe-2024-stock-market-peak-not-yet-reached">recently asked readers</a> if they thought markets would hit new highs in 2024. The poll found that 72% of readers don't think the market has peaked for 2024, suggesting more gains coming in the final four months of the year.
For investors looking for exposure to the Magnificent 7 stocks without having to choose one or two winners, there is the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which holds all seven stocks.
The study was conducted by Benzinga on Aug. 6 and Aug. 7, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 113 adults.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/08/40252739/fed-rate-cuts-could-avert-recession-say-75-in-benzinga-poll-as-majority-sees-market-dip-as-temporary">Fed Rate Cuts Could Avert Recession, Say 75% In Benzinga Poll: Majority See Market Dip As Temporary</a></li>
</ul>
Photo: Shutterstock

EXCLUSIVE: Which Magnificent 7 Stock Could Best Weather A Recession? Benzinga Readers Split On Pick, With A Tie For The Win

Mega-cap stocks, led by the Magnificent Seven companies, continue to be at the forefront, whether it is a rally or a pullback, underlining their undue influence on the market. Against this backdrop, Morgan Stanley analysts led by Erik Woodring on Wednesday delved into the damage the sell-off has inflicted on the mega-cap space and the outlook for these stocks.
Valuation Not So Depressed? The Magnificent Seven valuations are now 30% off the trailing five-year peak but still 50% above the trailing five-year trough, said Morgan Stanley analysts in the note. &#8220;This compares to the NASDAQ 100 that is 20% off its T5Y valuation high and 37% above its T5Y valuation low, and the Russell 2000 that is 56% off its T5Y valuation highs but 50% above its T5Y valuation low,&#8221; the analysts said.
The group comprises seven of the biggest mega-cap stocks, belonging to the IT and communication services sectors, as well as the electric-vehicle industry. The constituents are:
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>
<li>Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</li>
</ul>
See Also:<a href="https://www.benzinga.com/money/best-growth-stocks"> Best Growth Stocks Right Now</a>
Attractive On Future Growth: While adjusting for future earnings per share growth, the group traded at a 40% discount to the trailing five-year price-earnings growth ratio, said Woodring. This, according to the analyst, is the critical distinction in a soft-landing scenario and supports the case for the Magnificent Seven stocks outperforming small-caps.
Following the recent stock market sell-off, the Magnificent Seven stocks were down 9% month-to-date through Aug. 5, on average, the analyst noted. This compared to the S&amp;P 500&#8217;s 6% decline and the Nasdaq&#8217;s 8% decline, he said. 
The analyst noted that Tesla and Nvidia were the relative underperformers in the group, flat for the month-to-date period. 
&#8220;As a result, we&#8217;d conclude that while Mag 7 valuations still face significant downside valuation risk in a black swan or recession scenario, current Mag 7 valuations relative to future growth prospects are attractive after the recent drawdown,&#8221; Morgan Stanley said.
The view comes amid expectations that the mega-cap momentum will moderate, potentially giving the lead to small-caps, as the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40264176/0-5-or-0-25-federal-reserve-cuts-in-september-seem-a-done-deal-but-bond-traders-and-crypto">Federal Reserve is widely expected to cut interest rates,</a> beginning in September. Morgan Stanley&#8217;s analysis suggests the Mag 7 rally may have further leg as long as the economy averts a recession or hard landing.
The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.64% to $450.94 in premarket trading Friday and the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) rose 1.35% to $420.70, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data. </a>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) gained 0.72% to $208.38.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40188627/nvidia-leads-chip-stocks-higher-after-3-session-sell-off-whats-going-on">Nvidia Leads Chip Stocks Higher After 3-Session Sell-Off: What&#8217;s Going On?</a></li>
</ul>
Photo via Shutterstock

As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps — But There's A Catch

What initially seemed like a cause for celebration after Jerome Powell hinted that a September interest rate cut &#8220;could be on the table&#8221; quickly turned into another selloff for tech stocks the day after the July Federal <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">Open Market Committee meeting.</a>
Investors reevaluated their positions in tech giants in light of disappointing economic data released Thursday and the latest earnings reports, shifting toward a more risk-averse approach.
The Nasdaq 100, as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tumbled 2.7% after a 3% rally on Wednesday. 
The Magnificent Seven tech stocks, monitored through the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), declined by 1.9%. Chipmakers faced another significant blow, with the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) plummeting over 7%, wiping out the gains made on Wednesday.
Some investors, relying on fundamentals, see potential entry opportunities during this selloff.
<h3 class="wp-block-heading">Ed Yardeni&#8217;s Insights On Tech Stock Prospects</h3>
Veteran Wall Street investor Ed Yardeni, chief investment strategist and president at Yardeni Research, said that despite investor disappointment in Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) earnings, there were no indications that artificial intelligence would fail to live up to expectations.
According to Yardeni, their capital spending plans—higher than anticipated—indicate a strong commitment to developing infrastructure to support AI. 
&#8220;If that's the case, much of the selloff may be in the rearview mirror,&#8221; Yardeni wrote. 
Despite the selloff, the MegaCap-8 stocks (excluding Tesla) are still enjoying &#8220;a banner year:&#8221;
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): up 122% year-to-date through 1:30 p.m. ET Thursday. </li>
<li>Meta: up 41%</li>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>): up 29%</li>
<li>Alphabet: up 22.5%</li>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): up 21.5%</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): up 16.6%</li>
<li>Microsoft Corp.: up 11.2%</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): down 12%</li>
</ul>
Some stocks within this group still offer attractive valuations, according to Yardeni. 
For instance, he said Nvidia&#8217;s forward price-to-earnings (P/E) ratio of 32.1 is considered &#8220;extremely low&#8221; relative to its expected forward earnings growth of 60.9%. Similarly, Meta and Netflix are not fully recognized for their strong earnings growth, which almost matches their respective forward P/E ratios, he said. 
&#8220;Conversely, some forward multiples are harder to justify,&#8221; Yardeni said. 
Tesla&#8217;s forward P/E of nearly 80, with forward earnings growth of less than 6%, suggests that investors are betting heavily on the company&#8217;s potential to deliver autonomous vehicles and an electric semi-trailer truck. Both Apple and Microsoft&#8217;s forward multiples appear somewhat high, with a lot riding on Apple&#8217;s ability to launch its AI offering, Apple Intelligence, and Microsoft&#8217;s expectation that its significant quarterly investment in AI infrastructure will yield returns.
Here&#8217;s a fundamental snapshot of the MegaCap-8 stocks in terms of their forward multiples and expected earnings growth:
<ul>
<li>Tesla: 79.0 forward P/E, 5.8% forward earnings growth</li>
<li>Amazon: 34.2 forward P/E, 36.9% forward earnings growth</li>
<li>Nvidia: 32.1 forward P/E, 60.9% forward earnings growth</li>
<li>Microsoft: 31.4 forward P/E, 13% forward earnings growth</li>
<li>Apple: 30.3 forward P/E, 10.4% forward earnings growth</li>
<li>Netflix: 29.1 forward P/E, 32.4% forward earnings growth</li>
<li>Meta: 21.1 forward P/E, 22% forward earnings growth</li>
<li>Alphabet: 20.6 forward P/E, 20.1% forward earnings growth</li>
</ul>
Read Next:
• <a href="https://www.benzinga.com/markets/asia/24/08/40107045/middle-east-war-jitters-weigh-on-markets-us-treasuries-hit-5-month-highs-on-worsening-risk-sentiment">Middle East War Jitters Weigh On Markets: US Treasuries Hit 5-Month Highs On Worsening Risk Sentiment, Disappointing Data</a>
Photo via Pixabay.

NFLX

Wall Street Analyst Predicts End To Tech Rout: 'Much Of The Selloff May Be In The Rearview Mirror'

The elite group known as the Magnificent Seven faces a decisive market test as four mega-cap tech giants report their latest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">quarterly earnings this week. </a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) will kick things off on Tuesday, reporting its fiscal fourth-quarter 2024 earnings after market close.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will take the spotlight after the market closes on Wednesday, potentially making for a volatile day as traders assess interest rate moves following the Federal Reserve policy meeting and Fed Chair Jerome Powell&#8216;s press conference.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will both report their fiscal second-quarter and third-quarter earnings, respectively, on Thursday, after market close.
Collectively, these four giants have a market valuation of nearly $10 trillion, highlighting the significant impact these earnings are expected to have on the markets.
Last week, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) suffered its worst day since the fund&#8217;s inception, tumbling over 6% on Wednesday. On the same day, both the S&amp;P 500 and the Nasdaq 100 indices had their worst session since late 2022. Magnificent Seven also marked their third consecutive week of declines. 
Also Read: <a href="https://www.benzinga.com/news/earnings/24/07/40018739/apple-analyst-turns-focus-to-apple-intelligence-chinese-market-share-ahead-of-q3-earnings">Apple Analyst Turns Focus To &#8216;Apple Intelligence,&#8217; Chinese Market Share Ahead Of Q3 Earnings</a>
<h3 class="wp-block-heading">What Analysts Expect</h3>
&#8220;Much depends on investor sentiment,&#8221; said David Morrison, senior market analyst at Trade Nation.
According to Morrison, the key questions to address are whether the tech sector has pulled back enough for investors to buy again, regardless of earnings. Additionally, if there are further disappointments, will it trigger another wave of selling, and will funds then shift towards smaller-cap stocks?
&#8220;There's a lot to consider, and that's before factoring in monetary policy meetings from the Federal Reserve, Bank of Japan, and Bank of England, along with the U.S. Non-Farm Payrolls on Friday. This may prove to be a decisive week ahead of the summer's main holiday month,&#8221; he added.
<h3 class="wp-block-heading">Goldman Sachs Predicts Positive Amazon Performance Ahead of Earnings</h3>
Goldman Sachs equity analyst Eric Sheridan highlighted three key debates for investors ahead of Amazon&#8217;s earnings this week.
First, he pointed to the health of the consumer, with Amazon&#8217;s eCommerce business remaining strong in Q2 despite some weakness in the UK and Germany.
Second, Sheridan observed Amazon&#8217;s potential to boost operating income margins, with expected outperformance driven by higher retail margins, increased advertising contributions, and robust AWS profitability. 
Third, he addressed the growth trajectory of AWS revenue, anticipating a reacceleration in 2024 as optimization and workload migration challenges turn into tailwinds, alongside rising AI workloads.
Goldman Sachs raised Amazon&#8217;s 12-month price target from $225 to $250, reiterating a Buy rating.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Fiscal Quarter</th>
<th>EPS Estimate</th>
<th>Revenue Estimate</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corp.</td>
<td>Q4 2024</td>
<td>$2.93</td>
<td>$64.36B</td>
</tr>
<tr>
<td>Meta Platforms Inc.</td>
<td>Q2 2024</td>
<td>$4.72</td>
<td>$38.3B</td>
</tr>
<tr>
<td>Amazon.com Inc.</td>
<td>Q2 2024</td>
<td>$1.03</td>
<td>$148.6B</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>Q3 2024</td>
<td>$1.34</td>
<td>$84.4B</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years</a></li>
</ul>
Photo: Shutterstock

Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week

Technology stocks endured their steepest decline since late 2022 on Wednesday, with nearly 75% of Nasdaq 100 constituents <a href="https://www.benzinga.com/markets">slipping into the red.</a>
The Nasdaq 100 — tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) — dropped 3.6%, marking its fifth decline in six sessions and the sharpest one-day drop since October 2022.
The tech-heavy index fell below its 50-day moving average for the first time since early May. It mostly stayed above this key support level since late October 2023, barring a brief two-week period between April and May.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39939101/gdp-q2-preview-5-etfs-to-monitor-thursday-as-economic-data-unfolds">GDP Q2 Preview &#8211; 5 ETFs To Monitor Thursday As Economic Data Unfolds</a>
Shares of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), the parent company of Google, plummeted 4.9% due to higher-than-expected AI spending and disappointing YouTube ad revenue. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares tumbled 12% following a 7% drop in auto revenue, a profit miss, and delays in the Robotaxi project. 
Chip stocks also suffered, with Nvidia falling 6.2%, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) losing 7.6%, and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) sinking 8.2%.
The Magnificent Seven, tracked by the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), plunged 5.8%. This marks the worst daily performance since the fund&#8217;s inception. Collectively, the seven tech giants wiped out nearly $700 billion in market value in a single session, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) alone shedding $180 billion.
Chart: Nasdaq 100 Falls Below 50-Day Moving Average, QQQ Marks Worst Day Since October 2022
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41-1024x501.png" alt="" class="wp-image-455165" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41-1536x751.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160923/image-41.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="455" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40-1024x455.png" alt="" class="wp-image-455159" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40-1024x455.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40-300x133.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40-768x342.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40-1536x683.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24160756/image-40.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The key question now is whether the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39856707/top-analyst-remains-very-bullish-about-3-to-5-year-bull-market-despite-tech-induced">tech-led bull market is over</a> or the <a href="https://www.benzinga.com/top-stories/24/07/39601364/ai-surge-sparks-fears-of-dot-com-like-bubble-burst">AI bubble is bursting</a>. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year">Investors have also been rotating</a> out of tech since July 11, according to veteran Wall Street investor Ed Yardeni.
The lower-than-expected CPI in June prompted investors to pile into interest-rate-sensitive stocks.
&#8220;We agree with that expectation,&#8221; Yardeni said, &#8220;but we also think it could be a one-and-done rate cut for 2024 because the economy remains resilient.&#8221;
&#8220;For now, we believe that the stock market was overbought and is experiencing a minor selloff,&#8221; he added.
On July 16, the S&amp;P 500 was 15% above its 200-day moving average. Historically, such levels have often preceded 10%-20% corrections or more significant declines during recessions. 
This time, the selloff doesn&#8217;t seem linked to widespread recession fears, Yardeni says. After all, the Fed is poised to <a href="https://www.benzinga.com/markets/24/07/39849593/fed-rate-cut-expectations-drop-mortgage-rates-to-4-month-lows-surge-in-new-applications-refinance-de">potentially lower interest rates</a> in September.
Now Read:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938672/us-stocks-tumble-magnificent-7-wipe-out-570-billion-as-mega-tech-earnings-disappoint-vix-s">US Stocks Tumble, Magnificent 7 Wipe Out $570 Billion As Mega-Tech Earnings Disappoint, VIX Spikes: What&#8217;s Driving Markets Wednesday?</a></li>
</ul>

Nasdaq 100 Notches Worst Session Since Late 2022, Falls Below Key 50-Day Moving Average: Is The AI Tech Bubble Bursting?

Wall Street experienced a turbulent session on Wednesday, with the S&amp;P 500 index heading toward its worst performance in over a year and the tech-focused Nasdaq 100 eyeing its fifth decline in <a href="https://www.benzinga.com/markets">the last six sessions.</a>
The Magnificent Seven group — Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp., Alphabet Inc., Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. — wiped out over $570 billion in their combined market valuation by midday trading in New York. The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) fell 4.9%, marking the worst daily performance since the fund&#8217;s inception last year.
Tesla shares plummeted over 11% after missing earnings expectations, with revenue dropping 7% year-over-year to $19.9 billion. This marks its second consecutive quarter of year-over-year sales declines and the first sequential decline in quarterly sales volume.
Despite posting stronger-than-expected numbers, Alphabet also saw a significant drop, falling 5%, weighed down by its YouTube advertising revenue, which failed to meet analyst expectations.
The Nasdaq 100 fell 3%, eyeing a similar decline to the one witnessed a week ago. The drop in tech companies also impacted the chipmaker industry, which heavily depends on AI-related investments from mega-cap tech giants. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 3.3%, approaching its lowest close since early June.
The CBOE Volatility Index or VIX, commonly referred to as the market fear index, rallied 16% to 17 points.
On the macro front, flash PMI surveys revealed the strongest pace of growth for the services sector in 28 months, while manufacturing activity <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39934981/us-services-activity-hits-28-month-peak-price-pressures-continue-to-ease-economist-">returned to contraction in July.</a>
Treasury yields fell, sending a trade-weighted U.S. dollar gauge down 0.3%. Notably, the dollar fell 1.4% against the Japanese yen, eyeing levels last seen in early May. 
Gold showed its resilience against market turbulence, rising 0.6%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.4%. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.07</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,045.39</td>
<td>-0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,461.51</td>
<td>-1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,171.24</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:05 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.8% down to $543.94.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;edged down 0.8% to $400.13.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) fell 3% to $466.46.</li>
<li>Sector-wise, the Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)&nbsp;outperformed, up by 1.3%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, both down 3.2%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were: 
<ul>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), down over 4%.</li>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) up 0.6%.</li>
<li>Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), down 0.4%. </li>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 2.3%. </li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) up 3.2%.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) up 5.4%.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) down 2%. </li>
<li>Fiserv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) up 2.2%. </li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) up 0.8%, </li>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) down 4%. </li>
<li>Roper Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) down 9%. </li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) up 2.9%. </li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) up 0.7%. </li>
<li>Vertiv Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) down 9%.</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) up 7%. </li>
</ul>
Those reporting after the close include: 
<ul>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY) </li>
<li>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</li>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
<li>Republic Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>)</li>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>)</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>)</li>
<li>Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>)</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>)</li>
<li>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>).</li>
</ul>
Read now:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39931211/mortgage-rates-hit-lowest-point-since-february-as-investors-anticipate-fed-rate-cuts">Mortgage Rates Hit Lowest Point Since February As Investors Anticipate Fed Rate Cuts</a></li>
</ul>
Photo via Shutterstock.

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