Roundhill Magnificent Seven ETF (BATS: MAGS)

最新ニュース Roundhill Magnificent Seven ETF (BATS:MAGS)

Magal Security Sys

Technology

Consumer Cyclical

Communication Services

The Fund is an actively managed exchange-traded fund (ETF) that pursues its investment objective by seeking investment exposure to the largest companies (Underlying Issuers) in one or more of the following industries, each of which is defined by an independent industry classification scheme: Technology Hardware Industry; E-Commerce Discretionary Industry; Internet Media & Services Industry; and Software Industry (collectively, the Technology Industries). The Fund generally will offer exposure to between five and ten Underlying Issuers primarily through the use of swap agreements and/or forward contracts. The Fund also may invest directly in the equity securities issued by the Underlying Issuers, such as common stock or American Depositary Receipts (ADRs), or other securities that provide similar exposure to one or more Underlying Issuers when the Adviser believes doing so is in the best interests of the Fund and its shareholders.

Tesla, Inc.

Meta Platforms, Inc.

Nvidia Corp.

Microsoft Corp (united States)

Apple,inc.

Amazon.com, Inc.

Alphabet Inc.Class A

First American Government Obligations Fund

Roundhill Magnificent Seven ETF

MAGSEIS FAIRFIELD ASA by MAGSEIS FAIRFIELD ASA

Investor confidence is unraveling at a pace not seen in years, with recession odds climbing, U.S. equity allocations collapsing and cash piles swelling, signaling one of the most bearish market outlooks in a quarter-century.
In a note shared Tuesday, Bank of America's Michael Hartnett said April's Global Fund Manager Survey (FMS) revealed the fifth most bearish sentiment recorded in 25 years.
With global growth expectations at 30-year lows and fears of a trade war-induced recession surging, the market narrative has flipped sharply from optimism to caution.
&#8220;The current level of sentiment is the 5th&nbsp;lowest on record (behind 2001, 2009, 2019 and 2022),&#8221; Hartnett wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;BofA Global FMS [Fund Manager Survey} investor sentiment sinks to 5th lowest level on record&quot;. &lt;My take: Other notable low levels were near the GFC and 2022 <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> lows&gt; <a href="https://t.co/bF9qXX93HI">https://t.co/bF9qXX93HI</a> <a href="https://t.co/uUDhcP4WJd">pic.twitter.com/uUDhcP4WJd</a>
&mdash; Larry Tentarelli, Blue Chip Daily (@bluechipdaily) <a href="https://twitter.com/bluechipdaily/status/1912089156924166345?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
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<h3 class="wp-block-heading">A Crash In Investor Confidence</h3>
The survey, which gathers responses from hundreds of global fund managers overseeing trillions in assets, shows net 82% of respondents expect the global economy to weaken over the next 12 months—the highest level since the survey began. This marks a dramatic deterioration from March, when only 44% held a negative growth outlook.
Recession fears are also spiking, with 42% predicting a global recession, up from 19% in March. 
The probability of a "hard landing"—where economic contraction is abrupt and damaging—jumped to 49%, more than four times the 11% reported just a month earlier.
Cash levels, a proxy for investor nervousness, surged to 4.8%, up 125 basis points since February—the sharpest two-month rise since April 2020, when the pandemic panic began.
<h3 class="wp-block-heading">Peak US Exceptionalism?</h3>
The survey shows a seismic shift in sentiment toward U.S. markets. 
Allocation to U.S. equities fell by 53 percentage points since February, the largest two-month decline on record. This pushed net underweight exposure to 36%, the lowest since May 2023.
A striking 73% of investors said the era of "U.S. exceptionalism" has peaked, referring to the belief that the U.S. economy and markets could outperform the rest of the world. Correspondingly, expectations for the U.S. dollar to depreciate hit their worst level since 2006, with 61% expecting further weakness.
Investor outlook on U.S. corporate earnings turned bleak as well—net 28% said U.S. profit expectations are negative, the most pessimistic read since November 2007, just before the global financial crisis.
<h3 class="wp-block-heading">Expectations On Inflation And Fed Rate Cuts Diverge</h3>
The inflation outlook took a notable hawkish turn. Net 57% of fund managers see higher global consumer price index (CPI) over the next year—the highest since June 2021. The month-over-month jump in inflation expectations, 50 percentage points, was the largest since March 2022.
Despite this, investors are betting on policy easing, with 41% expecting three or more interest rate cuts from the Federal Reserve due to tightening liquidity conditions and weakening economic activity. The largest share, 34%, forecast two cuts this year.
But Hartnett's note cautioned that meaningful upside in asset prices would require "big tariff easing, big Fed rate cuts, and/or economic data resilience."
<h3 class="wp-block-heading">The New Crowded Trade</h3>
In a notable shift, the most crowded trade among fund managers is now "long gold," favored by 49% of respondents. This overtakes the tech-heavy "long Magnificent Seven," which led for 24 consecutive months.
Since the start of the year, bullion, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), has rallied by 23%. During the same period, the US seven largest tech stocks – tracked by the RoundHill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) – have fallen by 20%.
According to the survey, the rise of gold is tied to rising fears of stagflation—a toxic mix of slowing growth and high inflation—expected by 90% of respondents, the highest level since November 2022.
42% of fund managers also see gold as the top-performing asset for 2025, up from 23% in March. Meanwhile, global equities dropped to just 11% as the preferred asset class, a sharp decline from 39% the previous month.
<h3 class="wp-block-heading">How Bad Can It Get?</h3>
April's sentiment collapse dragged Bank of America's proprietary Bull &amp; Bear Indicator down from 4.8 to 4.5, inching closer to the traditional "buy" zone, but still suggesting that while investors are fearful, they haven't hit full capitulation.
Hartnett's note also hinted at a potential contrarian setup: If tariffs are eased and the Fed delivers aggressive rate cuts, going long U.S. stocks, cyclicals and the dollar while shorting gold, bonds and defensives could pay off. 
But if hard-landing fears materialize, shorting European and emerging market equities, along with bonds, would become the favored play.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44824856/retail-traders-rush-into-leveraged-tech-etfs-betting-on-nasdaq-rebound-after-sharp-drop">Retail Traders Rush Into Leveraged Tech ETFs, Betting On Nasdaq Rebound After Sharp Drop</a></li>
</ul>
Photo: Shutterstock

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Equities

Macro Economic Events

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Broad U.S. Equity ETFs

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Tech

ETFs

MAGS

Wall Street's Mood Turns Bleak As Global Recession Fears Mount, Fund Managers Slash US Exposure

Wall Street staged one of its most powerful rallies in history on Wednesday, as a dramatic shift in U.S. trade policy ignited an aggressive risk-on surge across <a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">every corner of the market.</a>
At the heart of the rally was President Donald Trump's unexpected announcement of a 90-day tariff pause for countries that have not retaliated against the U.S., coupled with a renewed hardline stance on China. 
The twin messaging—conciliatory toward allies, confrontational toward Beijing—was seen by investors as a calculated move to reset trade negotiations and de-escalate uncertainty.
Trump decided to impose universal 10% tariffs on countries that have not retaliated against U.S. duties, announcing a three-month window for fine-tuning negotiations. He also opted to keep duties on China as high as 125%.
The reaction was immediate and overwhelming.
The Nasdaq 100 – as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – soared 11% by 2:40 p.m. ET, on track for its strongest one-day gain since October 2008, during the height of the global financial crisis. 
The S&amp;P 500 jumped 8.7%, its best session since March 2020, while the Dow Jones Industrial Average surged 7.3%, also notching a post-COVID record. 
Meanwhile, the Russell 2000, which tracks domestic-focused small caps, rocketed 9.1%, nearing one of its best sessions since the index&#8217;s inception in 1987.
<h3 class="wp-block-heading">Mega-Cap Stocks Skyrocket </h3>
The Magnificent Seven stocks added a combined $1.44 trillion in market capitalization in a single session, in what is shaping up to be one of the largest single-day gains in aggregate market value ever recorded for the U.S. tech titans.
<ul>
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) jumped 15.88%, adding $373.12 billion in market capitalization.</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rallied 11.72%, gaining $258.23 billion.</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) rose 8.17%, up $215.33 billion.</li>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed 9.64%, increasing its market value by $174.34 billion</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) advanced 10.05%, adding $152.22 billion.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) surged 7.82%, with a $138.74 billion boost.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) soared 18.60%, gaining $132.73 billion.</li>
</ul>
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) soared 11%, its largest one-day jump since the fund&#8217;s inception in 2023.
"This was brilliantly executed by Donald Trump. Textbook, Art of the Deal," hedge fund titan Bill Ackman posted on X, reflecting the enthusiastic reactions from investors.
Economist Mohamed El-Erian noted that while speculation centered on who might have pressured the White House—Congress, CEOs, or courts—it was likely the government bond market that forced the administration's hand: "How close it gets to the line that separates wild price volatility from market malfunctioning," he wrote.
Before Trump's announcement, U.S. Treasuries had come under heavy pressure, with yields climbing amid growing investor skepticism toward American assets.
Market experts saw the move as a potential inflection point. 
"Markets are breathing a loud sigh of relief after President Trump announced a 90-day pause on tariffs and a reduction of certain ones," said Chris Brigati, CIO at SWBC. "The market&#8217;s move upward is violent, and speaks to how badly the market was looking for clarity."
Gina Bolvin, president of Bolvin Wealth Management, called this "the pivotal moment we've been waiting for," adding that the timing, just ahead of earnings season, may give companies a steadier backdrop for forward guidance.
Still, some warned the euphoria may prove temporary. "Uncertainty looms over what happens after the 90-day period," Bolvin said. "This underscores the importance of staying fully invested, particularly in a market as reactive and headline-driven as this one."
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/25/04/44716555/thomas-peterffy-greatest-buying-opportunity-tariffs-roil-markets">Don&#8217;t Panic, Billionaire Thomas Peterffy Says: Tariffs Present &#8216;Greatest&#8217; Buying Opportunity</a></li>
</ul>
Photo: Shutterstock

Large Cap

AAPL

AMZN

GOOG

MSFT

NVDA

TSLA

Nasdaq 100 Set For Strongest Rally Since 2008 As Magnificent 7 Add $1.5 Trillion In Historic Surge

Stocks and cryptocurrencies have been punched hard amid fears of economic fallout from President Donald Trump&#8217;s sweeping tariff measures.
Even so, Bitcoin, the world's largest cryptocurrency by market capitalization, has fared better than some of Wall Street&#8217;s tech behemoths.
What happened: The apex cryptocurrency has shed 15.79% of its value year-to-date, wiping out nearly $280 billion in investor wealth.&nbsp;
However, BTC was in a better position when compared with the "Magnificent 7" group, a cohort of seven large-cap technology companies.&nbsp;
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/04/44677895/another-crypto-firm-set-to-go-public-galaxy-digital-foresees-nasdaq-listing-soon-after-sec-approves-delaware-move">Another Crypto Firm Set To Go Public: Galaxy Digital Foresees Nasdaq Listing Soon After SEC Approves Delaware Move</a>
As evident, Nvidia, Tesla, Google's parent company Alphabet, Apple, and Amazon have all reported losses of over 20% since 2025 began. Elon Musk-led electric vehicle maker Tesla was the worst performer, plunging over 40% in the period.
Microsoft matched Bitcoin's decline, plunging 15.90% year-to-date, while Facebook's parent, Meta, posted smaller losses than the leading cryptocurrency.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Asset</td>
<td>YTD Losses&nbsp;</td>
<td>Price (Recorded at 4:50 a.m. ET)</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>40.20%</td>
<td>$233.29</td>
</tr>
<tr>
<td>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>28.21%</td>
<td>$97.64</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>27.10%</td>
<td>$181.46</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>22.06%</td>
<td>$146.75</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>21.06%</td>
<td>$175.26</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>15.90%</td>
<td>$357.86</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>15.79%</td>
<td>$79,102.14</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>12.46%</td>
<td>$516.25</td>
</tr>
</tbody>
</table>
</figure>
Meanwhile, the Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which offers equal weight exposure to the "Mag 7" stocks, slumped 23.80% year-to-date. 
Interestingly, Bitcoin has strengthened against the &#8220;Mag 7&#8221; entities since October 2024, with the BTC to MAGS ratio jumping to its highest value in more than a year.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909-1024x536.png" alt="" class="wp-image-861537" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909-1024x536.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909-768x402.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909-1536x804.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08052928/Screenshot-2025-04-08-145909.png 1622w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Trading View</figcaption></figure>
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $78,866.55, up 3.30% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Shares of MAGS were up 1.59% in pre-market trading after closing 0.27% higher at $41.47 during Monday&#8217;s regular session.
As of this writing, the stock&#8217;s momentum score was moderate at 65.16. To find ETFs with a much higher momentum, go to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/04/44677671/does-the-us-government-know-who-is-satoshi-nakamoto-crypto-lawyer-sues-department-of-homeland-security-to-unravel-bitcoin-creators-identity">Crypto Attorney Sues US Government To Unmask Satoshi Nakamoto, Creator Of Bitcoin</a></li>
</ul>
Photo: Bukhta Yurii/Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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News

Markets

$BTC

GOOGL

Despite Tariff Turmoil, Bitcoin Outperforms 'Magnificent 7' Stocks In 2025 — Records Smaller Losses Than Nvidia, Tesla, Apple

For the first time in years, <a href="https://www.benzinga.com/topic/magnificent-seven">the $3 trillion club</a> has no members. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), the first company to hit the milestone in 2022, has fallen below the threshold, leaving Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) also trailing in their bid to reclaim the title.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0404"><img loading="lazy" decoding="async" width="631" height="214" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04123947/Screenshot-2025-04-04-at-10.03.14-PM.png" alt="" class="wp-image-857998" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04123947/Screenshot-2025-04-04-at-10.03.14-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04123947/Screenshot-2025-04-04-at-10.03.14-PM-300x102.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0404" target="_blank" rel="noreferrer noopener">Table created using Benzinga Pro</a>
<h1 class="wp-block-heading">Apple's Slide Takes It Out Of The $3 Trillion League</h1>
Apple's stock has been in a steep decline, falling over 20% year to date and more than 17% in the past month. By midday on April 4, Apple stock was down another 5% to $192.70, bringing its market cap down to $2.92 trillion. That means the club is officially empty, at least for now.
Related: <a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44629335/apple-stock-slammed-by-trump-tariffs-is-a-death-cross-next">Apple Stock Slammed By Trump Tariffs: Is A Death Cross Next?</a>
Microsoft, once Apple's closest competitor in the race, currently holds a $2.73 trillion valuation. Meanwhile, Nvidia, which surged last year on AI-fueled optimism, sits at $2.32 trillion. The rest of the Magnificent Seven — Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — are further behind, with Tesla bringing up the rear at just $782 billion.
<h1 class="wp-block-heading">Broader Mag 7 Weakness Weighs On Markets</h1>
Apple isn't the only stock facing trouble. The Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which tracks the elite tech giants, has dropped nearly 22% year to date and 14% in the past month. The recent sell-off has weighed on the broader market, raising concerns about whether the mega-cap tech trade is losing steam.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44644871/nvidia-slips-into-bearish-trend-as-hsbc-downgrades-ai-giant">Nvidia Slips Into Bearish Trend As HSBC Downgrades AI Giant</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Trading Ideas

Magnificent 7's $3 Trillion Club Is Vacant As Apple Stock Stumbles

The <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent 7 stocks</a> are among those having a rough start to 2025 with all seven leading technology stocks down and the majority underperforming against the S&amp;P 500.
Benzinga readers picked their favorite Mag 7 stock to outperform the others over the next three months.
What Happened: Concerns over tariffs and macroeconomic issues have put a damper on the stock market and sent the prices of many leading stocks and indexes down in the first<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44149681/magnificent-seven-leadership-questioned-mags-etf-stumbles-ai-trade-losing-steam"> three months of the year.</a>
While many of the Magnificent 7 stocks have outperformed the S&amp;P 500 over the last five years, they could struggle to maintain that outperformance over the next year if current trends continue.
Here's a look at how Benzinga readers feel about the key seven technology stocks right now.
"The Magnificent 7 stocks have recently rebounded. Which one do you believe will outperform the others over the next 3 months?" Benzinga asked.
Here are the results:
<ul>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 23%</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 19%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 18%</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 13%</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 12%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 11%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 5%</li>
</ul>
The poll found Amazon to be the winner predicted to outperform the other Mag 7 stocks over the next three months. Nvidia ranked second in the poll, narrowly beating Tesla.
Amazon may be the winner given its role in the retail sector and being less impacted by tariff and macroeconomic concerns as shoppers look for value and convenience.
Read Also: <a href="https://www.benzinga.com/tech/25/02/44057422/bitcoin-magnificent-7-lose-safe-haven-status-in-2025-as-china-etfs-dow-stocks-outperform">Bitcoin, Magnificent 7 Lose Safe-Haven Status In 2025 As China ETFs, Dow Stocks Outperform</a>
Why It's Important: Here are the current year-to-date and one-year performances of the Mag 7 stocks:
<ul>
<li>Amazon: -11.6% year-to-date, +7.9% one-year</li>
<li>Nvidia: -20.6% year-to-date, +21.7% one-year</li>
<li>Tesla: -29.7% year-to-date, +51.7% one-year</li>
<li>Meta: -2.3% year-to-date, +20.6% one-year</li>
<li>Apple: -9.9% year-to-date, +28.2% one-year</li>
<li>Alphabet: -17.2% year-to-date, +4.0% one-year</li>
<li>Microsoft: -8.7% year-to-date, -9.2% one-year</li>
</ul>
The Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which tracks the seven stocks, is down 14.1% year-to-date and is up 18.8% over the last year.
For comparison, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, is down 4.4% year-to-date in 2025 and up 6.8% over the last year.
Meta is currently the only Mag 7 stock outperforming the SPY year-to-date in 2025. Amazon trails the S&amp;P 500 year-to-date in 2025 and is slightly higher over the last year.
For comparison, a <a href="https://www.benzinga.com/tech/24/11/42121665/could-another-magnificent-7-stock-beat-nvidia-in-2025-poll-says-not-likely-27-pick-this-potential-winner">November Benzinga reader poll</a> asked if any Mag 7 stock would outperform Nvidia in 2025. Here were those results:
<ul>
<li>None – Nvidia will dominate: 48%</li>
<li>Tesla: 27%</li>
<li>Amazon: 8%</li>
<li>Meta: 7%</li>
<li>Alphabet: 6%</li>
<li>Microsoft: 3%</li>
<li>Apple: 2%</li>
</ul>
The poll found the near-majority predicting Nvidia will have the strongest growth in 2025 and dominate the Magnificent 7 stocks once again.
Coming in second place, and the stock that could have the best chance to pass Nvidia according to readers, was Tesla at 27%.
Amazon ranked third in that poll, which could show that sentiment has shifted away from Nvidia and Tesla being the top Mag 7 stocks and instead investors are looking to Amazon as the leader for 2025.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/01/43041374/exclusive-how-high-will-sp-500-go-under-donald-trump-in-2025-readers-are-optimistic-26-say-this">EXCLUSIVE: How High Will S&amp;P 500 Go Under Donald Trump In 2025? Readers Are Optimistic, 26% Say This…</a></li>
</ul>
The study was conducted by Benzinga from March 25, 2025 through March 28, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 104 adults.
Photo gguy via Shutterstock

Exclusives

EXCLUSIVE: Which Magnificent 7 Stock Will Perform Best In The Next 3 Months? New Poll Shows A Favorite (And It's Not Nvidia)

If you&#8217;re analyzing contrarian opportunities in 2025, this list is worth studying. It highlights names that, despite widespread skepticism, have been <a href="https://www.benzinga.com/analyst-stock-ratings">outperforming more popular picks.</a>
In a year when Wall Street&#8217;s darlings have stumbled, some of the most unloved names in the S&amp;P 500 are quietly delivering gains that put high-conviction buys to shame—and the data may challenge how investors think about analyst ratings.
In a newsletter sent Tuesday, DataTrek Research spotlighted what it called "a truly remarkable list": the 10 S&amp;P 500 companies with the highest share of &#8216;Sell&#8217; ratings from analysts. 
&#8220;History and year-to-date returns suggest it is a good place to look for longs,&#8221; analysts suggested.
<h3 class="wp-block-heading">The Contrarian Play: Most-Hated, Yet Outperforming</h3>
&#8220;Wall Street analysts don&#8217;t put &#8216;Sell&#8217; on many stocks,&#8221; Datatrek wrote.
FactSet data shows that of the 12,320 ratings issued on S&amp;P 500 stocks, 55.7% are Buys, 38.7% are Holds, and only 5.6% are Sells.
&#8220;The percentage of Buy ratings is above its 5-year (month-end) average of 55.0%. The percentage Hold ratings is below its 5-year (month-end) average of 39.1%. The percentage of Sell ratings is also below its 5-year (month-end) average of 5.9%,&#8221; FactSet said.
Here are the 10 S&amp;P 500 stocks with the highest percentage of Sell ratings:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Buy</td>
<td>Hold</td>
<td>Sell</td>
</tr>
<tr>
<td>Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>)</td>
<td>0%</td>
<td>60%</td>
<td>40%</td>
</tr>
<tr>
<td>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>)</td>
<td>40%</td>
<td>20%</td>
<td>40%</td>
</tr>
<tr>
<td>Expeditors Intl. of Washington, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>)</td>
<td>0%</td>
<td>61%</td>
<td>39%</td>
</tr>
<tr>
<td>T. Rowe Price Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>)</td>
<td>6%</td>
<td>59%</td>
<td>35%</td>
</tr>
<tr>
<td>Paramount Global Class B (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)</td>
<td>13%</td>
<td>52%</td>
<td>35%</td>
</tr>
<tr>
<td>FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>)</td>
<td>17%</td>
<td>50%</td>
<td>33%</td>
</tr>
<tr>
<td>Lennox International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>)</td>
<td>24%</td>
<td>43%</td>
<td>33%</td>
</tr>
<tr>
<td>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)</td>
<td>10%</td>
<td>60%</td>
<td>30%</td>
</tr>
<tr>
<td>Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>)</td>
<td>6%</td>
<td>65%</td>
<td>29%</td>
</tr>
<tr>
<td>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>)</td>
<td>20%</td>
<td>52%</td>
<td>28%</td>
</tr>
</tbody>
</table>
</figure>
As counterintuitive as it may seem, an equal-weighted portfolio of these &#8220;Sell-rated&#8221; stocks would have returned 3.89% year-to-date through March 25, 2025.
Here&#8217;s how the individual &#8220;Sell&#8221; stocks performed:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Total Return (YTD)</td>
</tr>
<tr>
<td>Consolidated Edison, Inc.</td>
<td>19.35%</td>
</tr>
<tr>
<td>VeriSign, Inc.</td>
<td>18.78%</td>
</tr>
<tr>
<td>Paramount Global</td>
<td>11.45%</td>
</tr>
<tr>
<td>Expeditors International of Washington, Inc.</td>
<td>6.88%</td>
</tr>
<tr>
<td>Garmin Ltd.</td>
<td>6.33%</td>
</tr>
<tr>
<td>Southwest Airlines Co.</td>
<td>3.72%</td>
</tr>
<tr>
<td>Franklin Resources, Inc.</td>
<td>-1.33%</td>
</tr>
<tr>
<td>Lennox International Inc.</td>
<td>-3.62%</td>
</tr>
<tr>
<td>FactSet Research Systems Inc.</td>
<td>-8.25%</td>
</tr>
<tr>
<td>T. Rowe Price Group, Inc.</td>
<td>-14.42%</td>
</tr>
</tbody>
<tfoot>
<tr>
<td>Average</td>
<td>3.89%</td>
</tr>
</tfoot>
</table>
</figure>
That performance handily beats the -2.36% decline of the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), and it's miles ahead of the -10% drop in the Magnificent Seven cohort, tracked by the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>).
<h3 class="wp-block-heading">The "Buy" Darlings Didn't Deliver</h3>
Now, contrast that with the 10 most-loved stocks in the S&amp;P 500 — the ones with the highest percentage of Buy ratings.
This basket includes mega-cap giants like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), all ranked in the top tier for analyst sentiment.
But the returns tell a different story. An equal-weighted portfolio of these "Buy-rated" favorites would have lost 4.44% so far in 2025.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Buy</th>
<th>Hold</th>
<th>Sell</th>
<th>YTD Return</th>
</tr>
</thead>
<tbody>
<tr>
<td>UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>97%</td>
<td>0%</td>
<td>3%</td>
<td>+1.97%</td>
</tr>
<tr>
<td>Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>)</td>
<td>96%</td>
<td>0%</td>
<td>4%</td>
<td>-19.34%</td>
</tr>
<tr>
<td>VICI Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>)</td>
<td>96%</td>
<td>4%</td>
<td>0%</td>
<td>+9.77%</td>
</tr>
<tr>
<td>Microsoft Corp. </td>
<td>95%</td>
<td>5%</td>
<td>0%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Amazon.com Inc.</td>
<td>95%</td>
<td>5%</td>
<td>0%</td>
<td>-6.22%</td>
</tr>
<tr>
<td>Nvidia Corp.</td>
<td>93%</td>
<td>7%</td>
<td>0%</td>
<td>-10.14%</td>
</tr>
<tr>
<td>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>)</td>
<td>92%</td>
<td>4%</td>
<td>4%</td>
<td>-18.75%</td>
</tr>
<tr>
<td>Trimble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>)</td>
<td>92%</td>
<td>8%</td>
<td>0%</td>
<td>-0.27%</td>
</tr>
<tr>
<td>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>)</td>
<td>91%</td>
<td>9%</td>
<td>0%</td>
<td>-5.79%</td>
</tr>
<tr>
<td>Teledyne Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>)</td>
<td>91%</td>
<td>9%</td>
<td>0%</td>
<td>+10.41%</td>
</tr>
<tr>
<td>Average</td>
<td>—</td>
<td>—</td>
<td>—</td>
<td>-4.44%</td>
</tr>
</tbody>
</table>
</figure>
Bottom line, the trend offers a striking insight: being unloved by analysts doesn't necessarily doom a stock to underperformance. 
In fact, in a year marked by pullbacks in big tech and sector rotations, contrarian plays are quietly thriving.
For those willing to swim against the tide, Wall Street's least-favored stocks may hold the key to outperformance this year.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44473410/trumps-tariff-rates-could-be-double-what-market-participants-expect-goldman-sachs-warns">Trump&#8217;s Tariff Rates Could Be &#8216;Double What Market Participants Expect,&#8217; Goldman Sachs Warns</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Sector ETFs

EXPD

GRMN

PARA

SNPS

TRMB

TROW

VICI

VRSN

Want To Buy Stocks In 2025? There's One Conflicting Place To Find Winners, Analyst Says

Wall Street soared Monday, kicking off the week in full risk-on mode as investors welcomed signs of easing trade tensions and <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44459470/us-business-activity-rebounds-as-services-growth-outpaces-forecasts-yet-cost-pressures-intensify">stronger-than-expected economic data. </a>
President Donald Trump&#8216;s softer tone on potential tariffs ahead of the looming April 2, 2025 deadline helped calm nerves. Adding to the optimism, fresh business surveys showed a strong rebound in services activity in March, easing recession worries.
U.S. economic activity accelerated in March, with the Composite Purchasing Managers' Index (PMI) rising rom 51.6 in February to to 53.5. Services PMI jumped to 54.3 — well above consensus forecasts of 50.8 and sharply higher than the prior month's 51.0 reading. Yet, the report also flagged a notable uptick in cost pressures, as businesses reported growing concerns over input prices, likely linked to heightened speculation around potential tariff measures.
The S&amp;P 500 jumped 1.75% by midday in New York, on track for its best one-day performance since mid-January. The Nasdaq 100 rallied 2%, mirroring gains from March 14 — the index's strongest day since early November 2024.
Small caps outperformed their large-cap peers, underscoring the market's improving risk appetite. The Russell 2000 surged 2.8%, marking its best session since the post-election rally on Nov. 6, 2024.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) led the charge on both the S&amp;P 500 and Nasdaq 100, soaring 9.8%, on track for its sharpest one-day gain since early November.
All seven mega-cap tech stocks posted solid gains, with the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) climbing 2.9% after Friday's 1.4% rise, setting up what could be its strongest two-day advance since early January.
Every S&amp;P 500 sector, except utilities, traded in positive territory, with consumer discretionary and technology leading the pack.
The U.S. dollar index edged higher, eyeing a fourth consecutive session of gains. Meanwhile, Treasury yields spiked across the curve as investors rotated out of safe-haven assets. The 10-year yield jumped seven basis points to 4.32%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropped 0.9%.
Gold pulled back 0.3% to $3,014 per ounce, on pace for its third straight decline, as investors favored riskier assets.
Oil prices gained 1.5% after Trump threatened a 25% tariff on <a href="https://www.benzinga.com/government/regulations/25/03/44460897/oil-prices-rally-exxon-hits-16-week-highs-as-trump-vows-25-tariffs-on-any-country-buying-venezuelan-crude">countries importing Venezuelan crude.</a>
Crypto-related assets also rallied. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.7% to $88,400, while MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) jumped 7.4% and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 6.2%.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (%)</td>
</tr>
<tr>
<td> Russell 2000</td>
<td>2,104.07</td>
<td>2.3%</td>
</tr>
<tr>
<td> Nasdaq 100</td>
<td>20,160.42</td>
<td>2.1%</td>
</tr>
<tr>
<td> S&amp;P 500</td>
<td>5,762.34</td>
<td>1.7%</td>
</tr>
<tr>
<td> Dow Jones</td>
<td>42,589.04</td>
<td>1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.8% to $573.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.3% to $425.30.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 2% to $490.39.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.4% to $208.59</li>
<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 2.7%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.2%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Chinese electric-vehicle giant BYD Co. Ltd. (OTCPK: BYDDY) rallied 5.5% in over-the-counter markets amid stronger-than-expected quarterly earnings. The carmaker is now up 60% year-to-date. </li>
<li>Shares of Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) soared 7.3%, eyeing their biggest one-day jump since February 2024, as Chinese conglomerate Ant Group is increasingly shifting to domestic and AMD chips amid exports controls. </li>
<li>Airline and travel-related stocks rallied substantially amid easing recession fears. United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) were up 5.7%, 4.2% and 4%, respectively. </li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible">US Economy Faces &#8216;Fork In The Road&#8217;: Is Yardeni&#8217;s &#8216;Roaring 2020s&#8217; Still Possible?</a></li>
</ul>
Photo: Shutterstock

Asia

Government

Regulations

Travel

Treasuries

BYDDY

COIN

SPDR Dow Jones Industrial Average ETF Trust

MSTR

iShares Trust Barclays 20+ Year Treasury Bond Fund

Select Sector SPDR-Consumer Discretionary

S&P 500 Rallies On Best Day In 2 Months As Recession Fears Ease, Tesla Rockets, Bitcoin Hits $88,000: What's Driving Markets Monday?

The U.S. economy stands at a critical juncture. Mounting recession fears are colliding with the possibility of a technology-fueled productivity boom that could reshape the decade and power the stock <a href="https://www.benzinga.com/markets">market to new heights.</a>
In a note shared Monday, Ed Yardeni, one of Wall Street's most enduring bulls, said the U.S. economy faces "a fork in the road." The Yardeni Research president gives a 65% probability of a so-called Roaring 2020s scenario and a 35% chance of a more stagnant, stagflationary outcome, including a recession.
"We've decided to fold our 1990s meltup/meltdown scenario into our Roaring 2020s scenario," Yardeni said. 
"The current correction in the stock market suggests that the former has played out already, as the bull market's highflyers have been hit hardest."
<h3 class="wp-block-heading">What's Behind The Current Market Correction?</h3>
Markets have clearly been rattled. The S&amp;P 500 index — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — has declined 10.1% from its Feb. 19 peak through Mar. 13, while the Nasdaq 100, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), has slid 11.8% since its Dec. 16 high.
&#8220;The Magnificent-7 stocks led the recent rout,&#8221; Yardeni said.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>)—tracking the elite group of tech giants like Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) —has dropped 18.8% from its Dec. 17 peak.
This contrasts with the Defiance Large Cap ex-Mag 7 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXMAGS#NYSE">EXMAGS</a>), often referred to as the "S&amp;P 493," which is down just 6% since mid-February. The sharper decline in tech mega caps signals that the stock market correction is concentrated among prior highflyers.
These types of corrections—defined as 10%-20% pullbacks—typically reflect rising fears of an economic downturn.
Yet Yardeni stressed that forward earnings for the S&amp;P 500 continue to hit record highs, suggesting that Wall Street analysts remain more optimistic than investors. That divergence, he said, can be attributed to analysts being closely tied to corporate guidance, which often downplays macro fears.
<h3 class="wp-block-heading"> Two-Sided Outlook: Stagflation Or Productivity Boom?</h3>
Yardeni raised his recession probability to 35% earlier this month, attributing the increase to a "Trump Turmoil 2.0" characterized by tariff threats and political instability. Yet, his base case remains anchored in optimism.
In his Roaring 2020s scenario, Yardeni sees real GDP growth fueled by a 2% annual increase in productivity and labor force growth of 0.5%-1%, supporting potential economic expansion of 2.5%-3% annually. 
That would keep inflation in check, lift profit margins, boost wages and purchasing power, and ultimately push the S&amp;P 500 to 10,000 by the decade&#8217;s end.
"This includes the possibility of a rebound in the former highflyers," Yardeni said, suggesting tech stocks could still have room to run once market jitters subside.
<h3 class="wp-block-heading">What The Fed And Markets Are Pricing In</h3>
The Federal Reserve's March dot plot revealed that policymakers are still anticipating two rate cuts in 2024, followed by two in 2025 and one more in 2027. 
The longer-run federal funds rate remains anchored at 3%. These projections, along with the downgrade in real GDP forecasts to 1.7% for 2025, reflect the Fed's view of a soft landing. They also acknowledge the economic drags coming from tighter fiscal policy and potential trade disruptions.
Fed officials trimmed their real GDP growth expectations across the board: 
<ul>
<li>from 2.1% to 1.7% for 2025</li>
<li>from 2.0% to 1.8% for 2026, and</li>
<li>from 1.9% to 1.8% for 2027.</li>
</ul>
The Fed also raised its inflation forecast for core personal consumption expenditures, the central bank's preferred inflation gauge, to 2.8% for year-end 2024, up from 2.5% in December.
Kalshi, a prediction market regulated by the Commodity Futures Trading Commission, shows a 40% probability of a U.S. recession in 2025. That&#8217;s slightly higher than Yardeni's 35% estimate. These odds have ticked higher recently, mirroring growing concern over macro headwinds and geopolitical noise.
<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzinga_widget" width="552px" height="400px" style="border:0"></iframe>
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<li><a href="https://www.benzinga.com/markets/25/03/44449088/buffetts-berkshire-hathaway-outpaces-s-p-500-with-best-2-month-run-since-2010">Buffett&#8217;s Berkshire Hathaway Outpaces S&amp;P 500 With Best 2-Month Run Since 2010</a></li>
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Image: Shutterstock

EXMAGS

US Economy Faces 'Fork In The Road': Is Yardeni's 'Roaring 2020s' Still Possible?

2025 started rough for the broader tech elite, yet a strong rebound may be just around the corner for three key members <a href="https://www.benzinga.com/topic/magnificent-seven">of the Magnificent Seven.</a>
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have consistently delivered strong April returns, making the coming weeks potentially pivotal for traders looking to buy on recent dips. 
<h3 class="wp-block-heading">What Makes April So Powerful For Big Tech?</h3>
April tends to be kind to big tech. And for these three companies, it&#8217;s among the most favorable months on the calendar.
The timing is not coincidental. These firms typically report first-quarter earnings in late April, a period that often delivers upbeat results and fuels momentum.
For Amazon, April is historically the strongest month of the year. The e-commerce and cloud leader has posted a 7.6% average return in April since 1997, closing the month in the green 70% of the time as Table 1 below shows
Some Aprils have delivered eye-popping surges. In 2001, Amazon rallied 54.3%, followed by a nearly identical 54.1% gain in 2007. Even in the depths of the pandemic in 2020, shares jumped 26.8%. 
Only in 2022 did the stock log a sharp April loss—23.8%, during a broader market sell-off as the Federal Reserve aggressively raised interest rates to combat inflation.
So far this year, however, Amazon has struggled, with shares down 12% year to date, while the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>)—which tracks Amazon and its fellow mega-cap peers—is down 14.1% year to date.
That may leave room for a technical rebound in mega-cap tech giants if historical trends hold. 
Table 1: Amazon&#8217;s Historical Monthly Performance – Data: TradingView
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="597" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078-1024x597.png" alt="" class="wp-image-836697" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078-1024x597.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078-300x175.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078-768x448.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078-1536x896.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21152714/AMZN_2025-03-21_19-24-06_c2078.png 1767w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Meta Platforms, owner of Facebook, Instagram and WhatsApp, has also historically enjoyed April tailwinds. The stock has averaged a 5.1% gain, with a 67% win ratio since its public debut in 2012, as Table 2 below shows.
Meta's biggest April climb came in 2020, when it soared 22.7% as digital advertising boomed during the pandemic.
April ranks as Meta's second-best month, just behind January. 
While the stock is relatively flat for 2025, it has endured a sharp 20%-plus drawdown from its February peak, giving traders another reason to watch the April window closely.
Table 2: Meta Platform&#8217;s Historical Monthly Performance – Data: TradingView
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="590" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb-1024x590.png" alt="" class="wp-image-836704" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb-1024x590.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb-768x443.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb-1536x885.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153041/META_2025-03-21_19-29-26_9a7eb.png 1766w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
For Microsoft, April is the month with the highest win ratio of any on the calendar—71% since 2004. 
On average, the tech behemoth returned 3.48% in April, only slightly behind October&#8217;s 4.19% average gain.
Standout Aprils include a 15.7% gain in 2013, a 19.6% rally in 2015 and 13.6% in 2020.
Shares of Microsoft are down 10% year to date, and with first-quarter earnings typically released in late April, the potential for a sentiment reset is strong.
Table 3: Microsoft&#8217;s Historical Monthly Performance – Data: TradingView
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="592" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6-1024x592.png" alt="" class="wp-image-836705" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6-1024x592.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6-768x444.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6-1536x888.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/21153339/MSFT_2025-03-21_19-31-30_a8ff6.png 1775w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Table: Average April Performance</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Avg. April Return</th>
<th>April Win Rate</th>
</tr>
</thead>
<tbody>
<tr>
<td>Amazon</td>
<td>7.6%</td>
<td>70%</td>
</tr>
<tr>
<td>Meta Platforms</td>
<td>5.1%</td>
<td>67%</td>
</tr>
<tr>
<td>Microsoft</td>
<td>3.5%</td>
<td>71%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Final Thought: Is A Bounce Ahead?</h3>
If you&#8217;re a short-term trader or swing investor, seasonal trends like these are worth watching. While past performance is never a guarantee of future results, the data speaks clearly: April has consistently been a launching pad for these tech giants.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44376760/the-mag-7-slowdown-a-more-durable-transition-or-just-another-blip">EXCLUSIVE: The Mag 7 Slowdown &#8211; A &#8216;More Durable Transition&#8217; Or Just Another Blip?</a></li>
</ul>
Photo: Shutterstock

April Could Spark A Tech Rally For These Three Magnificent 7 Giants, If History Has A Say

Volatility returned to Wall Street on Tuesday, with all major indexes trading in negative territory by midday in New York. Investors weighed the economic impact of potential tariffs from the Trump administration while questioning whether the long-standing dominance of <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">U.S. equities has peaked. </a>
The S&amp;P 500 fell 1.1%, while the tech-heavy Nasdaq 100 dropped 1.5%. Blue-chip stocks provided no relief with the Dow Jones down 0.8%.
Data from Bank of America's Global Fund Manager Survey, released Tuesday, signaled a significant shift in asset allocation. Investor exposure to U.S. equities plunged 40 percentage points month-over-month to a net 23% underweight, the lowest level since June 2023. 
The Federal Reserve is set to hold its second policy meeting of the year on Wednesday. While markets widely expect interest rates to remain at 4%-4.25%, investors brace for updated economic projections that may reflect higher inflation estimates due to the tariff impact.
All Magnificent Seven tech giants traded in the red on Tuesday, with the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) hitting a seven-month low.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) tumbled 14% month-to-date, on track for its worst monthly performance since October 2022. Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has plummeted 21% since February, marking its worst two-month decline since November 2008.
Amid rising economic uncertainty, gold surged over 1% to $3,040 per ounce, as haven demand intensified. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is on track for its sixth consecutive session of gains, the longest streak since April 2024.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained under pressure, sliding 2.6% to $81,855.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,492.66</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,050.11</td>
<td>-0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,612.52</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,507.30</td>
<td>-1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1 p.m. ET </figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.1% to $560.89.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dropped 0.9% to $415.47.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;sunk 1.6% to $475.28.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 1.1% to $203.16. </li>
<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, yet still down 0.2%; the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was the worst sector performer, down 1.8%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) tumbled 7.7% in reaction to quarterly earnings. </li>
<li>Other stocks reacting to corporate earnings included KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>), down 10.3%, Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>), up 11.9% and Elbit System Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>), up 11%. </li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 11.6% after Morgan Stanley upgraded the stock from Underweight to Equal-weight.</li>
<li>Sarepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) plunged 21% after reporting the death of a Duchenne muscular dystrophy patient who had been treated with Elevidys.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/large-cap/25/03/44375798/apple-iphone-shipments-in-china-drop-21-january-goldman-sachs-remains-bullish">Apple iPhone Shipments In China Drop 21% In January, Goldman Sachs Remains Bullish</a></li>
</ul>
Photo: Shutterstock

BEKE

ESLT

LCID

SRPT

XPEV

Wall Street Falters, Magnificent Seven Hit 7-Month Lows, Gold Rockets On Haven Demand: What's Driving Markets Tuesday?

As the Magnificent 7 companies have estimated a total capital expenditure of over $330 billion on the artificial intelligence infrastructure in 2025, there is a possibility that China&#8217;s AI breakthrough, despite chip shortage, could affect their targets, affecting profitability.
What Happened: The Magnificent 7 companies are widely expected to spend more than $330 billion on capex in 2025. While the chipmaker Nvidia Corp. hasn&#8217;t explicitly mentioned a target during its earnings call, the iPhone maker Apple Inc. broadly expects to spend <a href="https://www.benzinga.com/government/regulations/25/02/43912631/apple-forced-to-kiss-the-ring-expert-questions-whether-trump-pushed-the-iphone-maker-for-500-billion-investment">$500 billion</a> over the next four years.
The remaining companies, however, have provided a specific target for 2025.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>CAPEX Target For 2025</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>&#8211;</td>
<td>-13.58%</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>&#8211;</td>
<td>-12.24%</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$80 Billion</td>
<td>-7.14%</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>$100 Billion</td>
<td>-11.12%</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>$75 Billion</td>
<td>-13.27%</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>$65 Billion</td>
<td>0.94%</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>$11 Billion</td>
<td>-37.25%</td>
</tr>
</tbody>
</table>
</figure>
According to Edward Yardeni, the President of Yardeni Research, the &#8220;AI bubble&#8221; could be &#8220;bursting&#8221; as China continues to scale its AI-linked technology with inexpensive chips.
He said, &#8220;The fear now is that open-source large language models (LLMs) like DeepSeek and Manus, developed in China, require much less powerful semiconductors to operate.&#8221;
&#8220;If so, then AI capital spending will tumble along with the profit margins on AI systems,&#8221; adds Yardeni.
See Also: <a href="https://www.benzinga.com/25/03/44370387/fed-put-on-standby-while-trump-put-may-be-kaput-analysts-expect-jerome-powell-to-pivot-to-a-measured-stance-amid-">Fed Put On Standby, While Trump Put May Be Kaput? Analysts Expect Jerome Powell To Pivot To A Measured Stance Amid Economic Uncertainty</a>
Why It Matters: All Magnificent 7 companies have underperformed in 2025, except Meta Platforms Inc. The exchange-traded fund that tracks these seven companies, Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), has declined by 12.87% on a year-to-date basis.
Since DeepSeek was introduced on Jan. 24, MAGS has been down by 16.21% according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek-1024x576.png" alt="" class="wp-image-828803" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18035026/Roundhill-since-DeepSeek.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The underperformance of Magnificent 7 companies can be attributed to "interest rate sensitivity," "unraveling trade tensions," and the high concentration of these stocks in the S&amp;P 500's market capitalization amid the market correction, according to John Murillo, the chief dealing officer at B2BROKER.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Monday. The SPY advanced 0.77% to $567.15, and the QQQ also jumped 0.65% to $482.77, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44354638/mark-cuban-advises-genz-to-spend-every-waking-minute-learning-about-ai-amid-disruption-heres-a-list-of-ai-investment-opportunities-for-long-term" target="_blank" rel="noreferrer noopener">Mark Cuban Advises GenZ To ‘Spend Every Waking Minute Learning About AI:' Here's A List Of AI Investment Opportunities For Long Term</a></li>
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Photo courtesy: Shutterstock

AI Bubble Bursting? Magnificent 7's Profit Margins Face Pressure As 'Capital Spending Can Tumble' In 2025

The rally that propelled the S&amp;P 500 to record highs is fading, leading Goldman Sachs to lower its year-end target for the index and dub the once-dominant Magnificent Seven <a href="https://www.benzinga.com/topic/magnificent-seven">stocks the &#8220;Maleficent Seven.&#8221;</a>
Chief U.S. equity strategist David J. Kostin said the revision reflects a weaker economic growth outlook, higher trade tariffs and a more uncertain policy environment &#8211; factors that are now pressuring corporate earnings and equity valuations.
In a note shared Monday, Kostin's team lowered the S&amp;P 500&#8217;s year-end target from 6,700 to 6,200 points. &#8220;The proximate causes of the market decline are the jump in policy uncertainty largely related to tariffs, concerns about the economic growth outlook, and a positioning unwind, especially among hedge funds.&#8221; 
Despite the revision, the new target still implies an 11% upside from current levels, though the market will need clearer catalysts for a sustained rally.
<h3 class="wp-block-heading">Why Goldman Sachs Is Cutting Its Forecast</h3>
One of the biggest drivers of Goldman's revision is weaker corporate earnings growth. 
The firm now expects S&amp;P 500 earnings per share to reach $262 in 2025, down from $268, and $280 in 2026, down from $288. This reflects an expected 7% EPS growth rate for both years, down from the previous 9% forecast for 2025.
Kostin highlighted a slower-than-expected U.S. GDP growth, which Goldman now projects at 1.7% for the fourth quarter of 2025, down from 2.2%. This downgrade reflects the impact of higher tariffs and increased economic uncertainty, which are weighing on corporate investment and consumer demand.
Another key factor in Goldman's target revision is lower valuation expectations. The bank reduced its projected forward price-to-earnings multiple for the S&amp;P 500 from 21.5x to 20.6x, citing a higher equity risk premium due to rising economic uncertainty.
&#8220;Higher uncertainty and slower earnings growth also mean lower fair-value multiples,&#8221; Kostin said.
<h3 class="wp-block-heading">Tariffs Are Hitting Corporate Profits</h3>
Goldman Sachs highlighted the impact of rising U.S. tariffs, which are now expected to increase by 10 percentage points to 13%.
&#8220;For tariffs, our rule of thumb is that every 5 pp increase in the U.S. tariff rate reduces S&amp;P 500 EPS by roughly 1-2%, assuming companies are able to pass through most of the tariffs to consumers,&#8221; Kostin said.
In a more severe risk scenario where tariffs rise to 18%, Goldman's economists estimate an additional 2% downside to the S&amp;P 500 EPS forecast.
<h3 class="wp-block-heading">The &#8216;Magnificent 7&#8217; Pullback Weighs On the Market</h3>
In the last three weeks, the S&amp;P 500 has dropped 9% from its peak with more than half of those losses come from the 14% decline in the Magnificent Seven's stock prices.
&#8220;Valuations are adjusting to a new reality where economic growth and corporate profits are more uncertain,&#8221; Kostin said. 
He indicated that while these companies still have strong earnings potential, investors are waiting for either stronger economic data or a clear buying signal before stepping back in aggressively.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) rallied 2.3% on Wednesday on the heals of a lower-than-expected inflation report. The elite group of tech stocks is down 13% year-to-date.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/media/25/03/44274410/alibaba-chair-says-ai-total-addressable-market-is-10-trillion-expects-benefits-via-its-cloud-business#google_vignette">Alibaba Chair Says AI Total Addressable Market Is $10 Trillion, Expects Benefits Via Its Cloud Business</a></li>
</ul>
Photo: Shutterstock

From 'Magnificent 7' To 'Maleficent 7,' Goldman Sachs Slashes Year-End S&P 500 Target

The once-unshakable dominance of the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent Seven</a> (or Mag 7) stocks is under scrutiny.
Stretched valuations and artificial intelligence investment concerns are weighing on mega-cap tech. The Bloomberg Mag Seven Index, an equal-weighted basket of these high-flyers, has officially entered correction territory. It&#8217;s down 10% year-to-date, notes Adam Turnquist, Chief Technical Strategist at LPL Financial.
<h2 class="wp-block-heading">Technical Breakdown: Key Support Levels Under Threat</h2>
According to Turnquist, the group has violated a key uptrend from October 2023 and is now testing critical support at the 200-day moving average. A breakdown from here could open the door to deeper losses, potentially revisiting last August's highs or lows. 
Meanwhile, the Magnificent Seven's relative strength versus the equal-weight S&amp;P 500 is also at a pivotal juncture—if support doesn't hold, Turnquist warns that their leadership status may be in jeopardy.
Read Also: <a href="https://www.benzinga.com/markets/equities/25/03/44101332/sp-500-selloff-spikes-investor-pessimism-bearish-sentiment-hits-30-month-high-but-this-expert-recommends-investors-to-stay-strong-and-not-panic-sell" target="_blank" rel="noreferrer noopener">S&amp;P 500 Selloff Spikes Investor Pessimism: Bearish Sentiment Hits 30-Month High, But This Expert Recommends Investors To ‘Stay Strong And Not Panic Sell'</a>
<h2 class="wp-block-heading">MAGS ETF Signals Strong Bearish Momentum</h2>
The Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), a fund tracking the group, is reflecting the broader weakness. MAGS is down 8.07% year-to-date and 9.29% in the past month.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030525&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/05135348/Screenshot-2025-03-06-at-12.23.34-AM.png" alt="" class="wp-image-810810" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/05135348/Screenshot-2025-03-06-at-12.23.34-AM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/05135348/Screenshot-2025-03-06-at-12.23.34-AM-300x234.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Technicals paint a bleak picture, with the stock trading below its eight-day, 20-day and 50-day simple moving averages, signaling strong bearish momentum. 
However, some buying pressure is emerging, with the 200-day simple moving average at $48.76 acting as potential support.
<h2 class="wp-block-heading">The China Factor: AI Competition Heats Up</h2>
Adding to the uncertainty is China's DeepSeek AI platform, which raises fresh questions about whether American tech giants can maintain their AI supremacy. 
With earnings growth facing new challenges as these companies shift from asset-light to asset-heavy models, investors are left wondering: Is this just a pullback, or has the Mag Seven's reign finally run its course?
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44105284/from-mag7-to-meh7-no-tech-giant-ranks-among-sp-500s-top-50-performers-in-2025-experts-say-struggle-is-justified">From &#8216;Mag7 To Meh7:&#8217; No Tech Giant Ranks Among S&amp;P 500&#8217;s Top 50 Performers In 2025, Experts Say &#8216;Struggle… Is Justified&#8217;</a></li>
</ul>
Image: Shutterstock

Technicals

Magnificent Seven Leadership In Question As MAGS ETF Stumbles: Is AI Losing Steam?

As inflation rises, grocery stocks have emerged as major beneficiaries, particularly those <a href="https://www.benzinga.com/25/02/43709413/egg-prices-hit-record-highs-new-york-bodegas-get-creative-and-sell-three-packs-for-299">tied to egg production</a>. 
The price of eggs has skyrocketed due to supply constraints, sending shares of Vital Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VITL#NASDAQ">VITL</a>) up 154% and Cal-Maine Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) up 90% over the past year. We will discuss more on that later, but before that, let us see how investors looking to capitalize on these trends can consider <a href="https://www.benzinga.com/etfs">ETFs with significant exposure</a> to the aforementioned stocks and the food industry in general, such as the Invesco Food &amp; Beverage ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBJ#NYSE">PBJ</a>) and the Invesco S&amp;P SmallCap Consumer Staples ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCC#NASDAQ">PSCC</a>).
The Invesco Food &amp; Beverage ETF offers exposure to companies engaged in food production, distribution, and retail. It holds leading names in the food industry, including packaged food manufacturers and grocery retailers. With a focus on consumer staples, PBJ provides investors with a diversified approach to food sector investing, helping them capitalize on rising grocery prices while mitigating risks associated with individual stocks. Companies such as Vital Farms, and PepsiCo are among its top holdings.
Also Read: <a href="https://www.benzinga.com/25/02/43709413/egg-prices-hit-record-highs-new-york-bodegas-get-creative-and-sell-three-packs-for-299">Egg Prices Hit Record Highs, New York Bodegas Get Creative And Sell Three Packs For $2.99</a>
The ETF's allocation to food manufacturers and retailers ensures it benefits from higher food prices. The recent surge in egg prices, along with elevated costs for other breakfast staples like orange juice and coffee, positions this ETF well for continued growth. The price of the ETF has surged around 2% in the past 5 days.
The Invesco S&amp;P SmallCap Consumer Staples ETF focuses on small-cap consumer staples companies, including food producers and distributors. Given that smaller food companies can experience outsized gains during price surges, this ETF is an attractive option for investors looking to capture high-growth opportunities in the grocery sector.
Key Holdings include Cal-Maine Foods and Vital Farms, both of which have seen explosive stock price growth amid the egg price spike.
With its targeted exposure to smaller, high-growth food companies, PSCC offers a direct way to invest in the ongoing food inflation trend. The ETF stands to benefit from continued price increases in essential grocery items, making it a compelling choice in the current market environment.
<h3 class="wp-block-heading">Egg Price Surge And Inflation Impact</h3>
Inflation in the U.S. <a href="https://in.benzinga.com/25/02/43663963/record-high-egg-prices-drive-inflation-higher-in-january">picked up in January</a>, driven by higher grocery, gasoline, and rent prices. The Consumer Price Index (CPI) grew 3% year over year, up from December's 2.9%, marking the highest increase since June. 
Monthly, the index rose 0.5%, the largest uptick since August 2023.
Among the key drivers of inflation were food prices, with grocery costs rising 0.3% in December following a 0.5% increase in November. Notably, egg prices soared 15.2% from December and 53% from the prior year, the steepest increase since June 2015. This surge—attributed to adverse weather and bird flu outbreaks—has led to significant gains for egg producers.
As food inflation accelerates, ETFs like PBJ and PSCC offer investors a way to gain exposure to grocery stocks poised to benefit from these trends.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/new-etfs/25/02/43737539/tesla-vs-ford-new-defiance-etf-capitalized-on-market-disruptors">Tesla Vs. Ford: New Defiance ETF Capitalized On Market Disruptors</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

CALM

PSCC

VITL

ETFs Benefit From Egg-Straordinary Surge In Grocery Prices

The Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which <a href="https://www.benzinga.com/etfs">offers equal-weight exposure</a> to the seven tech titans often referred to as the &#8220;Magnificent Seven,&#8221; has seen an impressive 45.17% return over the past year. However, despite strong performances from several stocks within its portfolio, MAGS has remained flat this year-to-date (YTD). A closer look at individual stock performances and the fund's structure sheds light on this stagnation.
Tesla's Troubles Weigh On MAGS
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), one of the seven stocks in MAGS, has been a major drag on the ETF's performance. The electric vehicle maker has been on a five-day losing streak, closing at $328.50 on Tuesday—its lowest level since mid-November 2024. After surging over 50% following Donald Trump's election win in November, Tesla's momentum has faded, with investors shifting focus to its fundamentals. With high valuation, weaker-than-expected deliveries, production challenges and increasing competition in the EV space, Tesla has struggled, declining 10.53% YTD, making it the worst-performing Mag-7 stock so far.
Investor Caution Weighs on Nvidia, While Meta Shines
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) investors have typically rushed to buy the stock on any dips, but the <a href="https://in.benzinga.com/tech/25/01/43302711/nvidia-hardest-hit-among-mag-7-stocks-by-deepseek-and-this-stock-ranked-second">mood has shifted</a> following a sharp selloff driven by Chinese AI startup DeepSeek. Nvidia shares slumped 17% in a single day, wiping out about $590 billion in market capitalization, after DeepSeek claimed high performance at a lower cost. While the stock has regained some ground, it remains over 12% below its January record high, signaling growing fears of a slowdown in AI spending, said Bloomberg. The stock is down 4.85% so far this year.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43540906/nvidia-stock-remains-analysts-top-pick-deepseek-selloff-is-a-buying-opportunity">Nvidia Stock Remains Analyst&#8217;s Top Pick: &#8216;DeepSeek Selloff Is A Buying Opportunity&#8217;</a>
Meanwhile, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been a bright spot, driven by robust advertising revenue, cost-cutting measures and its increasing investment in AI-driven innovations. The stock has gained substantially in early 2025, helping offset losses elsewhere in the fund. The stock is up 20.85% this year thus far.
However, not all MAGS components have fared as well. Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has faced headwinds from weakening iPhone demand in China and regulatory challenges in the EU, dipping 3.51% YTD. Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has also had a tepid start to the year, with concerns over increased AI competition and potential ad revenue slowdowns weighing on its stock price. GOOGL stock has dipped almost 3% so far this year.
Also Read: <a href="https://www.benzinga.com/25/02/43646615/top-analyst-says-metas-ai-push-could-add-100-per-share-while-tesla-faces-ev-headwindswhy-hes-still-bullish-on-musks-robotics-vision">Meta&#8217;s AI Push Could Add $100 Per Share While Tesla Faces EV Headwinds: Top Analyst</a>
Equal-Weight Structure Keeps Gains In Check
One crucial factor behind MAGS' flat performance is its equal-weighting strategy. Unlike the S&amp;P 500 or Nasdaq indexes, which are weighted by market capitalization, MAGS ensures that each of the seven stocks carries nearly the same portfolio weight. While this strategy prevents any single stock from dominating the fund, it also means that even when gains and losses in the stocks counterbalance one another.
While the MAGS ETF has outperformed the broader Nasdaq over the past year, its equal-weight structure has contributed to its lackluster YTD performance. With Tesla and Nvidia dragging the fund down and Apple and Alphabet also struggling, the gains from Meta haven't been enough to push MAGS higher.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/02/43662078/trumps-metal-tariffs-set-stage-for-us-steel-etf-gains">Trump&#8217;s Metal Tariffs Set Stage For US Steel ETF Gains</a></li>
</ul>
Photo: Shutterstock

Why The MAGS ETF Has Remained Flat Year-to-Date Despite Some Strong Performers

China is looking to target U.S. tech companies in order to gain leverage in trade negotiations <a href="https://www.benzinga.com/25/02/43577207/trump-says-he-will-announce-reciprocal-tariffs-next-week-that-will-impact-everyone-escalating-trade-war-with-global-partners-the-only-fair-way-to-do-it">with U.S. President Donald Trump</a>.
What To Know: According to the <a href="https://www.wsj.com/tech/china-trade-war-us-tech-03578671?mod=hp_lead_pos3">Wall Street Journal</a>, Chinese officials are building a list of U.S. tech companies that can be probed over antitrust concerns, including Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>). 
The Nvidia probe came after the Biden administration ramped up export controls on high-end semiconductors to China, and the Google probe came immediately after an additional 10% tariff on Chinese goods went into effect last week.
China is also targeting Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Synopsys Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>).
The goal is to influence tech executives who have become close to Trump as trade tensions rise.
Beijing is also mulling potential tactics in response to the tariffs that Trump has imposed on Chinese goods.
Check This Out: <a href="https://www.benzinga.com/government/regulations/25/02/43596413/corporate-americas-best-earnings-in-3-years-will-tariffs-end-wall-streets-honeymoon#google_vignette">Corporate America&#8217;s Best Earnings In 3 Years: Will Tariffs End Wall Street&#8217;s Honeymoon?</a>
"China is on a chip-gathering exercise,&#8221; Trivium China&#8217;s Tom Nunlist told the WSJ. &#8220;They want to come to the table to negotiate and need something to play with.&#8221;
China has strengthened regulatory tools in recent years including adding an &#8220;unreliable entity list&#8221; and amending laws to tighten rules on anticompetitive acquisitions. Chinese officials reportedly aim to get the attention of some of the top tech executives who appear to be close to Trump, including those who sat next to him on Inauguration Day like Google&#8217;s Sundar Pichai and Apple&#8217;s Tim Cook. 
Chinese tech companies typically criticize Apple because of the fees it charges developers for in-app services. Apple has said its policies help ensure that the apps remain safe.
The report indicates that Chinese regulators have started taking a closer look at Apple in recent weeks as some view Apple&#8217;s fees as &#8220;unreasonably high&#8221; and believe its app rules could hurt competition. 
Price Action: The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was up more than 1.5% on Monday at last check.
The tech-heavy Invesco QQQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was up about 1.25%. 
The Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>) was up about 1.15% at the time of writing, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
<ul>
<li><a href="http://benzinga.com/quote/nvda">Nvidia shares</a> were up 2.86% at $133.55</li>
</ul>
<ul>
<li><a href="http://benzinga.com/quote/goog">Alphabet shares</a> were up 1.06% at $189.13</li>
</ul>
<ul>
<li><a href="http://benzinga.com/quote/aapl">Apple shares</a> were up 0.59% at $228.97</li>
</ul>
<ul>
<li><a href="http://benzinga.com/quote/avgo">Broadcom shares</a> were up 4.1% at $234.09</li>
</ul>
<ul>
<li><a href="http://benzinga.com/quote/snps">Synopsys shares</a> were up 0.94% at $530.76</li>
</ul>
Photo: Courtesy of Apple.

Movers

AVGO

China Sets Sights On Apple, Nvidia And Other US Tech Companies As Trade Tensions Rise

Major stock indices have completed their recovery following Monday's sharp drop, buoyed by tech stocks rallying on the back of solid earnings <a href="https://www.benzinga.com/news/econ-s">and positive macroeconomic data.</a>
The S&amp;P 500 index stands at 6,118 points at midday trading in New York, not far from the all-time high of 6,128 points reached last Friday.
The Personal Consumption Expenditure price index — the Fed's preferred inflation gauge — <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43390001/feds-favorite-inflation-gauge-rises-as-predicted-consumer-spending-jumps-at-fastest-pace-in-9-months">came in line with expectations in December</a>, easing market participants&#8217; concerns over interest rates. Fed futures continue to reflect expectations for two rate cuts by the end of the year.
Meanwhile, personal spending posted a robust 0.7% increase in December, signaling strong consumer appetite in the final month of the year — a promising sign for corporate earnings.
The Magnificent Seven — as tracked by the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) – soared 1.6% on Friday, effectively erasing weekly losses after plunging as much as 3.1% on Monday due to the DeepSeek selloff.
Yet, within the elite group, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) remains 12% lower than last Friday's close, with Friday&#8217;s gains primarily driven by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
The Dow Jones, flat on the day, attempted to break its all-time highs at the open but faced resistance from sellers. Sector-wise, tech leads the charge, while energy lags following mixed earnings results from oil giants Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
Gold climbed above $2,800 per ounce, extending new records as demand for the ultimate safe-haven asset surges amid rising geopolitical and trade risks. This comes after President Donald Trump confirmed on Thursday his plan to introduce 25% tariffs on Mexico and Canada starting Feb. 1.
WTI crude oil prices were down 0.3% at $72.3 per barrel, potentially marking their second consecutive weekly decline.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) paused for a breather, holding steady at $104,800.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>• Nasdaq 100</td>
<td>21,814.96</td>
<td>1.4%</td>
</tr>
<tr>
<td>• S&amp;P 500</td>
<td>6,118.40</td>
<td>0.8%</td>
</tr>
<tr>
<td>• Russell 2000</td>
<td>2,315.94</td>
<td>0.4%</td>
</tr>
<tr>
<td>• Dow Jones</td>
<td>44,973.98</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:24 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent013125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.7% to $609.38.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged up by 0.1% to $449.30.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.4% to $530.49.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $229.68.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.2%; the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.7%.</li>
</ul>
<h2 class="wp-block-heading">Friday&#8217;s Stock Movers</h2>
<ul>
<li>Stocks reacting to earning reports included:
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), up 0.72%</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) up 0.80%</li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) up 0.17% </li>
<li>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) up 2.11%, </li>
<li>PPG Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) down 6.12%, </li>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) down 6.36%, </li>
<li>Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) up 5.52%, </li>
<li>Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) down 16.5%,</li>
<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) up 1.99%.</li>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): down 1.31%</li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): up 6.7%</li>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): down 3.7%</li>
<li>Colgate-Palmolive Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>): down 4.5%</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>): down 0.8%</li>
<li>Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>): up 3.6%</li>
<li>Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>): down 0.6%</li>
</ul>
</li>
</ul>
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Tech Stocks Rally, S&P 500 Flirts With Records, Gold Extends All-Time Highs: What's Driving Markets Friday?

The valuations of several Magnificent 7 stocks were hit hard Monday with news of the capabilities of DeepSeek, a Chinese AI that is said to be <a href="https://www.benzinga.com/markets/asia/25/01/43243584/deepseek-r1-vs-openai-what-consumers-need-to-know-about-ais-latest-challenger">more cost-effective.</a>
A Benzinga reader poll shows that DeepSeek could hurt one Mag 7 stock the most.
What Happened: Semiconductor leader NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43239042/magnificent-seven-broadcom-lose-nearly-900-billion-in-value-as-deepseek-sparks-ai-carnage-why-this-expert-is-still-bullish-on-us-tech"> lost around $600 billion</a> in value Monday with shares falling 17%. The company went from being the most valuable in the world to the third most valuable.
The loss of around $600 billion in value marked the largest single-day value drop in U.S. stock history.
Investors were concerned that Nvidia could suffer from a more cost-effective AI model, and the rise of DeepSeek could mean less spending on products from the semiconductor giant.
A Benzinga reader poll found that when it comes to which Magnificent 7 stocks could be the most impacted by DeepSeek, Nvidia wins rather handily.
"Which Magnificent 7 company could be hit hardest by China's DeepSeek AI platform," Benzinga asked.
The results were:
<ul>
<li>Nvidia: 82%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): 12%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): 3%</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): 2%</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 2%</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): 0%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): 0%</li>
</ul>
The poll showed Nvidia as the clear winner with 82%, reflecting its status as the steepest decliner among the seven stocks on Monday.
Ranking second was Microsoft, which has become a big investor in the AI sector, including a stake in OpenAI. The capabilities of DeepSeek were quickly compared to OpenAI on Monday and could ramp up a rivalry between the two companies. Microsoft stock fell 2.1% on Monday.
Ranking third was Alphabet with 3% followed by Amazon and Meta at 2%. Tesla and Apple did not receive any responses in the poll, suggesting these companies are potentially less impacted by the rise of DeepSeek.
Read Also: <a href="https://www.benzinga.com/news/management/25/01/43274796/jensen-huang-loses-20b-in-wealth-how-deepseek-hit-nvidia-stock-and-worlds-richest-people">Jensen Huang Loses $20B In Wealth: How DeepSeek Hit Nvidia Stock And World&#8217;s Richest People</a>
Why It's Important: Many technology stocks came roaring back on Tuesday, showing fears of DeepSeek could be overblown.
Nvidia stock was up 8.8% on Tuesday, while Microsoft also gained 2.9%.
The Roundhill Magnificent 7 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>), which tracks the seven stocks mentioned above, was up 3% on Tuesday. The ETF was down 3.1% Monday.
A <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43289107/will-deepseek-hurt-magnificent-7-stocks-valuation">separate Benzinga reader poll</a> asked if DeepSeek could drive down the valuation of Magnificent 7 stocks in 2025. The poll found that 57% said yes that valuations could face pressure.
Several leading investment voices called Monday's selloff of Nvidia stock a buying opportunity.
"To me, it's an overreaction," Fundstrat Global Advisors' head of research Tom Lee said Monday.
Lee compared Monday&#8217;s drop to a March 2020 Nvidia stock decline that ended up being a good entry point for investors.
&#8220;I&#8217;d be looking at this as an opportunity.&#8221;
Wedbush analyst Daniel Ives called DeepSeek the "Temu of AI" in a <a href="https://x.com/DivesTech/status/1884222484536553882">tweet</a>, comparing the Chinese AI to a Chinese ecommerce company that has tried to disrupt Amazon with low prices, but potentially inferior goods.
Ives also questioned the reports that DeepSeek built its AI models without using Nvidia products, saying it was unlikely.
"We expect more innovation in AI/LLM model costs to come down. However, saying DeepSeek was built for $6 million with no Nvidia next generation hardware is likely a fictional story that is at the heart of the debate and drove a massive tech-sell off."
The analyst <a href="https://x.com/DivesTech/status/1884370285790421282">hinted </a>that earnings reports from Meta and Microsoft on Wednesday after market close could show the importance of AI in the U.S.
"We expect Meta and Microsoft to reiterate their massive 2025 AI driven Capex numbers of $60 billion-$65 billion and $80 billion respectively with a firm tone."
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</ul>
The study was conducted by Benzinga from Jan. 27, 2025 through Jan. 28, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 67 adults.
Image created using photos from Shutterstock.

EXCLUSIVE: Nvidia Hardest Hit Among Mag 7 Stocks By DeepSeek, Poll Shows — And This Stock Ranked Second

The fourth-quarter earnings season is in full swing, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43054693/magnificent-7-earnings-hinge-on-ai-payoff-analyst-flags-top-risks">all eyes are on the Magnificent 7,</a> a group of tech giants that enjoy the market&#8217;s attention, thanks in part to the ongoing artificial intelligence boom and their dominance in this space.
These stocks are Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). <a href="https://www.benzinga.com/etfs">ETFs that focus</a> heavily on these stocks have also become attractive options for investors seeking diversified exposure ahead of their earnings results.
If you're looking to ride the earnings wave, here are three ETFs worth considering:
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) was the first ETF offering equal-weight exposure to these seven stocks. It has an expense ratio of 0.29% and an AUM of $639.75 million. The ETF has grown 61% in the last year.
For a slightly broader yet targeted approach, the MicroSectors FANG+ ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNGS#NYSE">FNGS</a>) could be a good choice. The fund tracks the NYSE FANG+ Index and maintains a 10% share in each of the seven stocks. The expense ratio is 0.58%.
Meanwhile, the Vanguard Mega Cap Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGK#NYSE">MGK</a>) allocates around 59% of its assets to the Magnificent 7. The ETF has $21.60 billion in AUM and an expense ratio of 0.06%, making this a pocket-friendly option.
<h1 class="wp-block-heading">What's Next For The Magnificent 7?</h1>
As the earnings season progresses, the Magnificent 7 stocks are expected to report earnings growth of 18% in 2025, marking a slowdown, according to a December 2024 report by Bloomberg. 
Tesla, Microsoft and Meta Platforms will kick off earnings with reports scheduled after market close on Wednesday. Apple follows Thursday, while Alphabet and Amazon are set to announce results on Feb. 4 and Feb. 6, respectively. Nvidia is likely to release its earnings later in February.
<a href="https://www.benzinga.com/25/01/43232316/deepseek-jitters-shatter-us-tech-stocks-wipe-out-12-trillion-on-wall-street-analyst-eyes-four-chinese-giants-set-" target="_blank" rel="noreferrer noopener">Hangzhou, China-based AI startup</a> DeepSeek launched a new AI model that poses a challenge to U.S. competitors, including Nvidia&#8217;s core business. Industry experts like venture capitalist Marc Andreessen called this moment a "Sputnik moment" for U.S. AI companies as this could be a ground-breaker in the AI space, reported Reuters.
Nvidia shares rebounded Tuesday after analysts called the&nbsp;market&#8217;s reaction an &#8220;overreaction.&#8221; Analysts believe advancements like these could drive even more investment in AI, which can be beneficial for companies including Nvidia. Moreover, Nvidia has already said that DeepSeek's inference requires &#8220;significant numbers of Nvidia GPUs and high-performance networking."
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43283732/tech-rebounds-after-black-monday-nvidia-rallies-6-gm-plummets-whats-driving-marke">Tech Rebounds After Black Monday, Nvidia Rallies 6%, GM Plummets: What&#8217;s Driving Markets Tuesday?</a>
Tesla has faced mixed fortunes recently. The EV maker reclaimed its trillion-dollar market cap thanks to a favorable policy environment. Yet it hit a roadblock with its fourth-quarter delivery numbers. The company missed estimates and reported its first-ever year-over-year decline in full-year vehicle deliveries. 
Adding to the challenges, recent rollbacks of pro-EV policies weighed on Tesla's stock, which fell 2.5% year-to-date. Despite these shortfalls, Tesla's leadership in EV scale and technology gives it an edge, particularly in markets where tariffs might restrict cheaper imports from Chinese competitors.
Microsoft continues to shine as a key AI forerunner with substantial investments in data centers and AI development. The company expects $10 billion in AI-related revenues next quarter.
Meta looks promising, with analysts raising their price targets ahead of its earnings release. Wedbush and BofA Global Securities now peg Meta's stock at $700 and $710, respectively. The social media company expects to generate revenues of $45-$48 billion in the fourth quarter but also anticipates increased spending on AI and infrastructure projects. This might shrink the margins.
Despite rolling out new AI-driven applications late last year, Apple has struggled to gain momentum, particularly in international markets. Its latest iPhone 16 has seen muted sales. Jefferies recently downgraded Apple to Underperform. Looking ahead, Apple expects low to mid-single-digit sales growth in its fiscal first quarter.
Alphabet is currently staring at antitrust lawsuits and increasing competition in the generative AI space. Analysts remain concerned about the long-term impact of AI on Alphabet's core search business.
Amazon continues to dominate e-commerce and cloud computing, while its AI business is growing rapidly. The company's fourth-quarter revenues are projected to land between $181.5 billion and $188.5 billion. Amazon's investments in AI infrastructure, including data centers and custom chips, position it well for sustained growth in this sector.
See Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/upgrades/25/01/43284333/nvidia-positioned-for-400-billion-ai-boom-with-advanced-gpus-new-product-launches-drivin">Nvidia Positioned For $400 Billion AI Boom With Advanced GPUs, New Product Launches Driving Revenue Growth, Say Analysts</a></li>
</ul>
Photo: Shutterstock.

FNGS

Magnificent 7 Earnings Ahead: 3 ETFs To Ride The Wave

A new Benzinga reader poll shows whether Monday's selloff of technology stocks could be short lived or a major item to watch with valuations of artificial intelligence companies questioned with the surge of interest in DeepSeek, a <a href="https://www.benzinga.com/markets/asia/25/01/43243584/deepseek-r1-vs-openai-what-consumers-need-to-know-about-ais-latest-challenger">Chinese AI company.</a>
What Happened: Monday's selloff hurt <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43239042/magnificent-seven-broadcom-lose-nearly-900-billion-in-value-as-deepseek-sparks-ai-carnage-why-this-expert-is-still-bullish-on-us-tech">many technology stocks,</a> with companies that deal with semiconductors and the AI sector among the highest impacted names.
Semiconductor leader NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost around $600 billion Monday, dropping the company from the largest in the world to third largest and marking the largest single day value drop in U.S. stock history.
Here's a look at how the Magnificent 7 stocks traded Monday:
<ul>
<li>Nvidia: -16.86%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): -4.20%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -2.32%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): -2.14%</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): +0.30%</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): +1.91%</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): +3.25%</li>
</ul>
Overall, the Mag 7 stocks were mixed, with three trading up on the day and four trading down. The large drop for Nvidia hit the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) hard with the ETF down 3.09% Monday.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, ended Monday down 1.5%.
Benzinga asked readers how serious the threat from China's DeepSeek could be.
"Will China's DeepSeek AI drive down the valuation of Magnificent 7 stocks this year?" Benzinga asked.
The results were:
<ul>
<li>Yes, it could pressure valuation: 57%</li>
<li>No, the impact will be minimal: 44%</li>
</ul>
The poll showed a small majority believing that valuations of Magnificent 7 stocks are now under pressure.
Read Also:<a href="https://www.benzinga.com/news/management/25/01/43274796/jensen-huang-loses-20b-in-wealth-how-deepseek-hit-nvidia-stock-and-worlds-richest-people"> Jensen Huang Loses $20B In Wealth: How DeepSeek Hit Nvidia Stock And World&#8217;s Richest People</a>
What's Next: On Tuesday, Magnificent 7 stocks that were down Monday recovered, with the market trading higher and rebounding from the losses.
Here are how the Magnificent 7 stocks traded on Tuesday:
<ul>
<li>Nvidia: +8.82%</li>
<li>Apple: +3.65%</li>
<li>Meta Platforms: +2.19%</li>
<li>Microsoft: +2.87%</li>
<li>Amazon: +1.16%</li>
<li>Alphabet: +1.70%</li>
<li>Tesla: +0.24%</li>
</ul>
The S&amp;P 500 ETF was up 0.86%, and the Magnificent Seven ETF was up 3.0% on Tuesday.
Of the Magnificent Seven stocks, five are positive year-to-date with Nvidia down 8.7% and Apple down 2.0% this year.
Six of the seven Magnificent 7 stocks have outperformed the +23% gain of the SPY over the last year, with Microsoft at +8.8% as the lone exception.
Monday&#8217;s selloff could either fade quickly or mark the beginning of significant concerns over valuations. Quarterly earnings results from four of the seven stocks reporting later this week may further intensify the focus on valuations.
Tesla, Meta and Microsoft all report after market close Wednesday, while Apple reports after market close Thursday.
The threat of DeepSeek and other emerging AI technology from China and outside the United States is a development that should be closely watched by investors moving forward.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/01/43041374/exclusive-how-high-will-sp-500-go-under-donald-trump-in-2025-readers-are-optimistic-26-say-this">EXCLUSIVE: How High Will S&amp;P 500 Go Under Donald Trump In 2025? Readers Are Optimistic, 26% Say This…</a></li>
</ul>
The study was conducted by Benzinga from Jan. 27, 2025 through Jan. 28, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 154 adults.
Photo gguy via Shutterstock.

EXCLUSIVE: Will DeepSeek Hurt Magnificent 7 Valuations? 57% Say This

Press Releases

Roundhill Magnificent Seven ETF (MAGS) Wins "Best New ETF"

Roundhill Investments Reaches $1 Billion AUM Milestone

Roundhill Investments Surpasses $2 Billion AUM Milestone

Roundhill Investments Launches China Dragons ETF (DRAG)

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Roundhill Magnificent Seven ETF Surpasses $1 Billion in AUM

Roundhill Investments Surpasses $4 Billion AUM Milestone

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Roundhill Announces Exchange Listing Changes for Magnificent Seven ETFs

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