The ‘Magnificent 7’ are dying and Wall Street is pretty happy about it

The S&P 500 fell 0.19% yesterday but, interestingly, the “equal weight” S&P 500 (a notional index that values each stock equally) was marginally up. That’s because more investors are picking between winners and losers on the index—and many of the losers are the “Magnificent Seven” tech stocks.

The market as a whole is up 0.48% year-to-date. Given that the year is only a few days old, that pace promises healthy gains ahead.

But only two of the Mag 7 stocks are in positive territory so far, Alphabet and Amazon.