Previous close | 246.72 |
Open | 246.90 |
Bid | 236.45 |
Ask | 238.50 |
Strike | 800.00 |
Expiry date | 2026-01-16 |
Day's range | 246.72 - 246.90 |
Contract range | N/A |
Volume | |
Open interest | 1 |
The rotation out of Big Tech has become evident, with the standout 'Magnificent Seven" (AAPL, TSLA, GOOG, GOOGL, AMZN, META, MSFT, NVDA) names no longer being the market (^GSPC,^IXIC,^DJI) forerunners they once were. Roundhill Investments CEO Dave Mazza joins Morning Brief to discuss the dynamics of the Magnificent Seven. Mazza notes that the Magnificent Seven's market leadership "hit an abrupt stop" in mid-July, fueled by the unwinding of the Yen carry trade. While Meta has been the only name to somewhat recover, Mazza believes "it's too early to give up" on the Magnificent Seven. "While we don't expect them to continue to see just outsized performance, it's tough to see the market continue to grind higher without their participation. I think a broadening is good, but I actually want these leaders to be able to participate at the same time," he explains. Regarding the Magnificent Seven as a whole, Mazza explains they were coined that name because they were all performing at the same rate and outperforming the rest of the markets with a strong lead. However as that trend has begun to waver, Mazza identifies Tesla as the most concerning among the names. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Technical indicators from Oppenheimer suggest that big tech companies, especially names like Meta (META) and Tesla (TSLA), are poised to outperform in the coming months. Oppenheimer Head of Technical Analysis Ari Wald joins Catalysts to discuss this outlook. Wald emphasizes that the key positive for markets is that market breadth "remains firm," supporting higher highs throughout the end of 2024. Based on this, he believes "the bull cycle is intact," with the market positioned for continued growth into 2025. He advises buying higher growth companies, explaining, "The scarcity premium comes back against a lower growth backdrop for these names," especially within the tech-heavy Nasdaq (^IXIC). Wald elaborates on the Nasdaq's potential: "It has underperformed since the summer, but I think through this rotational nature it is set up to lead again. It did a good job holding up support levels and so for that reason, for us, it's growth for the long-term. I think this is a growth and tech-led secular bull, and then on a near-term basis, it's become tactically attractive to buy that style as well." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
Generative artificial intelligence leader OpenAI has raised $6.6 billion in new funding, valuing the startup at $157 billion. New investors include SoftBank and Nvidia.