The dominance of megacap technology stocks, dubbed the “Magnificent Seven,” has become a problem for mutual fund managers seeking to diversify their portfolios. The group — Amazon , Microsoft , Meta , Alphabet, Apple , Nvidia and Tesla — have led the current bull market and 2024’s rally, increasing their representation in market-cap weighted benchmarks
Heading into November’s U.S. presidential election, professional investors agree on one strategy — diversification remains key. Stocks have been on an tear this year, with the S & P 500 and Nasdaq Composite closing at all-time highs this week even as questions swirl about when the Federal Reserve will start to lower interest rates. A
Traders work on the floor of the New York Stock Exchange. Michael M. Santiago | Getty Images Stock futures edged lower Sunday night as investors await key inflation data for further clues on the longevity of this year’s market rally. Earnings from some major financial giants and consumer companies are also on the docket. S&P futures
(Bloomberg) — Hedge funds piled into short bets against Tesla Inc. (TSLA) right before the electric vehicle maker unveiled a set of numbers that triggered a hefty share-price rally. Most Read from Bloomberg About 18% of the 500-plus hedge funds tracked by data provider Hazeltree had an overall short position on Tesla at the end
Big Tech has been a closely watched theme over the past year, with investors piling into AI poster child Nvidia and the other so-called “Magnificent Seven” stocks: Alphabet , Amazon , Apple , Meta , Microsoft and Tesla . But this heavy focus on just a few stocks has led one portfolio manager to urge