US equities gain as Magnificent Seven stocks lead charge
US equity index futures traded higher with the Nasdaq 100 up about 1%. The Magnificent Seven group of mega-cap tech stocks has regained market leadership this month, with an ETF tracking them up 2.5% compared to a 0.5% decline for the S&P 500.
97% Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at The Magnificent Seven Strike Back One development attracting growing attention on Wall Street is the return of Magnificent Seven leadership. While the mega-cap tech group has lagged the broader market for much of the year, recent performance suggests investors are once again gravitating toward these names. 8% gain for the Roundhill Magnificent Seven ETF.
Over shorter periods, however, the tech giants have regained the upper hand. 5% decline for the S&P 500. 6% this quarter, versus a 2% rise for the benchmark index. Even so, the S&P 500 remains about 2% below its record closing high.
46. 94, set on May 14, while rising for a fourth straight week. The momentum appears set to continue Monday. S.
equity futures firmly higher ahead of the open, MAGS is up about 1% in premarket trading. 5%. 01% loss is barely noticeable. 00, where a resistance line drawn from the October 2025 peak comes into play.
00. 00 zone. That area is reinforced by the August low, the 200-day moving average and a trend line from the April 2025 low. Notably, that trend line provided support during pullbacks in both late June and late July, making it an important level to watch if the recent momentum begins to fade.
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