In this week's video, we review what some have dubbed The Magnificent 7; the top seven stocks in the S&P 500. Specifically, we review how these seven stocks have influenced the S&P 500's return year-to-date.
We also briefly review the lack of participation in the broader market. In fact, the majority of US equities are still in a technical downtrend. While we believe the wind is at our back and we will likely see a year-end rally, it is important to remember that it would be inappropriate to classify 2023 as a "bull" market. It is also not a bear market. We are still in a transition phase. We are transitioning from a bear market to a bull market.
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Past performance is no guarantee of future returns. Hicks & Associates reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. The visuals shown are for illustrative purposes only and do not guarantee success or certain level of performance. This material contains projections, forecasts, estimates, beliefs and similar information (“forward looking information”). Forward looking information is subject to inherent uncertainties and qualifications and is based on numerous assumptions, in each case whether or not identified herein.
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