Earnings reports from four Magnificent Seven stocks representing nearly 19-20% of major index weightings will create significant volatility across SPX, NDX, and DJI.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
"RSP has beaten the VOO and SPY ETFs this year because of the ongoing performance of the Magnificent 7 companies. Nvidia, despite its role in the AI space, has dropped by over 15% from the year-to-date high. Tesla has dropped by 37%, Alphabet by 11%, while Microsoft has dropped by 17%."
"In the SPDR S&P 500 ETF Trust (NYSE:SPY), the four stocks make up 18%, with the following weightings... In the Invesco QQQ Trust (NASDAQ:QQQ), the four stocks make up 19.9% of assets. The earnings reports this week could make those indexes and ETFs volatile, along with sectors like technology, semiconductors, ecommerce, social media, telecommunications, and more."