April 5, 2024 (Investorideas.com Newswire) A recent Stocklytics.com analysis suggests that the Magnificent Seven could be the second-most-capped index globally. The septet’s $13.1 trillion cap is second only to that of the American equity market.
What’s telling is that the bunch is more valuable than some of the world’s most traded stock markets. Their collective value, for instance, outstrips China’s total stock market cap by $1.6T. Again, their market share equals the combined sum of three other markets: Japan ($6.5T), India ($4.4T), and France ($3.2T).
The data caught the attention of Stocklytics financial expert Edith Reads. She says the findings underlie the significance of Mag 7 to the American equity market and the indices that list them. Reads stated:
The Mag 7 are your biggest stock picks globally. The fact that they’re more valuable than whole country bourses underscores their importance to the S&P 500 and Nasdaq exchanges that list them.
Stocklytics financial expert, Edith Reads
These stocks constitute a quarter of S&P 500 value and over 50% of Nasdaqs. As such, Reads quips that their dominance has been central to the growth and stability of the US stock market. Her stand mirrors several other analysts who’ve commented on the heptad’s impact on the country’s inflation. The full story and statistics can be found here: Magnificent Seven’s Market Cap Hits $13.1 Trillion, Surpasses China’s Equity Market by $1.6 Trillion
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