Big Tech’s Cause for Hope: Link Between Mag 7, S&P 500 Is Broken
Market Intelligence Analysis
AI-Powered 94% HUGGINGFACE-PROSUSAI/FINBERTFinBERT analysis of financial text showing neutral sentiment with 94.1% confidence.
Article Context
The correlation between an index tracking the so-called Magnificent Seven and the equal-weighted version of the S&P 500, which more accurately reflects the full performance of all the stocks by removing the weighting of the biggest companies, turned negative on Feb. 23, an indication that they were becoming untethered. Since then, the correlation has continued to fall as the war in Iran disrupts markets and sparks a jump in oil prices. “We’ve never had a tech cycle move this quickly,” said Daniel Newman, chief executive officer of the Futurum Group.
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FinBERT analysis of financial text showing neutral sentiment with 94.1% confidence.
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