The Magnificent Seven add more than $200 billion to their market caps
Posted on AllSides November 14th, 2023
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It was a magnificent day for the stock market Tuesday, highlighted by a strong performance by the Magnificent Seven technology giants, led by Tesla Inc. and Apple Inc. shares.
The S&P 500 index SPX powered up 1.9%, with 466 components gaining ground, while the tech-friendly Nasdaq-100 Index NDX bulled 2.1% higher with 94 components rising. Investors cheered tame inflation data, which fueled hopes that interest rates may have peaked.
The total market capitalization of the Magnificent Seven companies was $11.69 trillion at Tuesday’s close, which represented about 29.1% of the...
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