S&P 500 Hits Records as Magnificent Seven Stocks Surge Back — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Magnificent Seven stocks staged a comeback after trading sideways for much of the past year, re-energizing a broader bull market in the process.
- The S&P 500's record run comes despite two named headwinds: rising bond yields and stubbornly high crude-oil prices that had threatened the rally.
Why it matters: The Magnificent Seven's recovery is doing the heavy lifting for an S&P 500 that had been pressured by rising bond yields and elevated crude prices, meaning the index's return to record highs depends on this narrow group of megacap names overcoming macro headwinds rather than broad-based participation.
Ask SkimNews
