Russell Investments: Mag Seven Q3 Earnings May Underperform Broader Market
Russell Investments forecasts that the "Magnificent Seven" tech companies may underperform the broader S&P 500 index during the third-quarter earnings season, as profit momentum shifts.
Russell Investments said profit momentum is shifting, with early estimates suggesting the “Magnificent Seven” could underperform the broader S&P 500 index as third-quarter earnings season begins. The firm’s outlook points to a potential relative weakness for the seven-stock group versus the index that tracks 500 companies.