The so-called Magnificent Seven — the grouping of tech stocks comprised of Amazon (AMZN), Apple (AAPL), Alphabet (GOOG, GOOGL), Nvidia (NVDA), Meta (META...
) — have begun a bit of a rotation as Apple closed the day higher while Nvidia and Amazon began to slump.) earnings expectations are at an all-time high. The"Sahm Rule" — a recession indicator that tracks when the three-month moving average of the jobless rate rises by at least a half-percentage point from its low during the previous 12 months — could be on the cusp of being triggered.Yahoo Finance's Jared Blick joins us now with more on the trading day takeaways, Jared.
Now, we haven't seen like financials and industrials really perk up recently, but that's what they did last year when the, when the mag seven finally took a back seat, they stepped up.This goes back to, uh, kind of December 2021 S and P 500 earnings expectations.And what's interesting, you can see this bottomed right around the change of the new year at the beginning of last year, but stocks actually bottomed in October.
Mark O'Hare became a billionaire after BlackRock acquired his data company. Now he's turning his employees into millionaires.
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