The S&P 500 index has seen a surge in record highs, with the 'Magnificent Seven' stocks driving the market. Goldman Sachs reports that the average S&P 500 stock is now as overvalued as the top-performing stocks. These seven stocks have accounted for over 30% of the index, the highest concentration in history. Despite this, some hedge funds are outperforming the S&P 500 without relying on these top stocks.
The Magnificent 7 are no longer the only stocks driving S&P 500 to record highs, per MW. The number of S&500 stocks trading at 52-week highs peaked at 118 in the first quarter, the highest in three years, per MW.
This could be the strongest stock market in history: The S&P 500 has not had a weekly drop of 2% or more since the week of October 23rd, 2023. There have only been a total of TWO weekly drops in the entire 2024 so far. Since October 2023, the S&P 500 has added almost $11… https://t.co/Gu5NMXNRjm
The average S&P 500 stock has joined the Magnificent Seven in overvalued territory, according to Goldman Sachs, $GS.
This hedge fund is beating S&P 500 without relying on Magnificent 7; This is how https://t.co/kq71GrtR0v https://t.co/YKKQBq8du8
The Magnificent Seven stocks grew their earnings by 37% over the last year while the remaining 493 companies in the S&P 500 saw a 2% decline. By the 4th quarter of this year, this trend is expected to reverse w/ an 18% YoY increase for the 493 vs. a 15% increase for the Mag 7. https://t.co/YmxOCDbNIJ
'Wall Street's blue-chip S&P 500 index captured its highest share of global equity exchange traded fund flows for at least a decade last year, as the rise of the so-called Magnificent Seven reshaped benchmarks worldwide.' https://t.co/kkUqr2i7Ww https://t.co/1QUMe8vd4P
What sticks out? S&P 500 Map https://t.co/uNkD2SfZsE
Magnificent 7 stocks now account for more than 30% of the S&P 500 $SPX, this group's highest concentration in history https://t.co/6yvpsMILot
the S&P 500 is very large https://t.co/lIfXk31gms https://t.co/xD6yAJ50XJ
The average S&P 500 stock is as overvalued as the ‘Magnificent Seven': Goldman https://t.co/eEjAx0p83B
The average S&P 500 stock is as overvalued as the ‘Magnificent Seven,’ Goldman says https://t.co/AzYx9QfaWH
So far in 2024 the S&P 500 has hit 22 record highs
The Magnificent 7 are no longer the only stocks driving S&P 500 to record highs https://t.co/zdcm8fgV0W