Magnificent Seven drive bumper year for US stocks

vCard QR Code

vCard.red is a free platform for creating a mobile-friendly digital business cards. You can easily create a vCard and generate a QR code for it, allowing others to scan and save your contact details instantly.

The platform allows you to display contact information, social media links, services, and products all in one shareable link. Optional features include appointment scheduling, WhatsApp-based storefronts, media galleries, and custom design options.

America’s stock market rally this year has been driven by bumper gains for its ‘Magnificent Seven’ tech giants.

Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla have climbed by between 50 per cent and 240 per cent in 2023.

Now worth more than £9trillion combined, they have been responsible for around two-thirds of S&P 500 gains this year.

The rise of Artificial Intelligence – a technology that some think could transform the world – helped fire up valuations.

And the prospect of lower interest rates next year makes bets on the future earnings of growth stocks more attractive.

Bumper gains: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla have climbed by between 50 per cent and 240 per cent in 2023

Nvidia shares rose more than 200 per cent, taking its value to nearly £1trillion, thanks to demand for its chips for use by AI programmes such as ChatGPT, which produce human-like content from poems to software code.

Hubert de Barochez, economist at Capital Economics, recently told clients: ‘US equities’ out-performance is due almost entirely to the few industries that include ‘Big Tech’ firms. 

While we expect a broader stock market rally next year, we suspect those industries will keep leading the way.’

Dan Ives, tech analyst at Wedbush Securities, said: ‘In our opinion the new tech bull market has begun.’ But Laith Khalaf, at AJ Bell, said expectations for the stocks are now so high that it could leave them vulnerable.

source: dailymail.co.uk


🕐 Top News in the Last Hour By Importance Score

# Title 📊 i-Score
1 Zelensky slaps down Trump's peace plan with 4-word statement as US issues ultimatum 🟢 82 / 100
2 Brazilian police probe a pension fraud scheme that stole $1 billion from retirees 🔴 75 / 100
3 Earthquake measuring 6.2 shakes Istanbul and injures more than 150 people 🔴 75 / 100
4 Piers Morgan's scathing dig at Rachel Reeves after budget car crash 🔴 73 / 100
5 Treasury secretary says plan is not for 'America alone,' but reiterates focus on trade deficits 🔴 72 / 100
6 Family of father who was devoured by sharks off Israeli beach reveals he tried to fend off beasts with Go-Pro stick while attempting to film them in the water 🔴 65 / 100
7 Glentoran investigate footage allegedly showing player at rally linked to New IRA 🔵 60 / 100
8 Scientists discover lost Shakespeare letter that upends what we know about playwright's life – leaving biographers with a 'horrible problem' 🔵 55 / 100
9 How to unlock Alice in Disney Dreamlight Valley 🔵 35 / 100
10 Jelly Roll Speaks Out After Development on Robbery, Drug Charges 🔵 30 / 100

View More Top News ➡️