Bears see Mag 7's S&P dominance as 'one bad payroll away from cracking': Bank of America

seekingalpha07-27

The significant sway the Magnificent 7 mega-cap tech stocks have on the S&P 500 (SP500) could rupture from a marked slowdown in U.S. economic activity, according to Bank of America ((BofA)). The ...

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The ...</p>\n\n<a href=\"https://seekingalpha.com/news/4129007-bears-see-mag-7s-dominance-as-one-bad-payroll-away-from-cracking-bank-of-america\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bears see Mag 7's S&P dominance as 'one bad payroll away from cracking': Bank of America</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBears see Mag 7's S&P dominance as 'one bad payroll away from cracking': Bank of America\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-27 02:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4129007-bears-see-mag-7s-dominance-as-one-bad-payroll-away-from-cracking-bank-of-america><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The significant sway the Magnificent 7 mega-cap tech stocks have on the S&P 500 (SP500) could rupture from a marked slowdown in U.S. economic activity, according to Bank of America ((BofA)).  The ...</p>\n\n<a href=\"https://seekingalpha.com/news/4129007-bears-see-mag-7s-dominance-as-one-bad-payroll-away-from-cracking-bank-of-america\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SQQQ","symbol_name":"纳指三倍做空ETF","start_time":0,"source_url":"https://seekingalpha.com/news/4129007-bears-see-mag-7s-dominance-as-one-bad-payroll-away-from-cracking-bank-of-america","article_id":"2454437943","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/165999267/image_165999267.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2454437943","pubTimestamp":1722017671,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The significant sway the Magnificent 7 mega-cap tech stocks have on the S&P 500 (SP500) could rupture from a marked slowdown in U.S. economic activity, according to Bank of America ((BofA)).  The Nasd","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SQQQ":"纳指三倍做空ETF","OEX":"标普100","MSFT":"微软","SPXU":"三倍做空标普500ETF","BK4574":"无人驾驶","META":"Meta Platforms","QID":"纳指两倍做空ETF","LU2129689605.HKD":"FRANKLIN GLOBAL INCOME \"A\" (HKD) INC","NVDA":"英伟达","BK4505":"高瓴资本持仓","BK4573":"虚拟现实","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","LU2129689514.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) INC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","GOOGL":"谷歌A","BK4581":"高盛持仓","GOOG":"谷歌","LU2129689431.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) ACC","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","AAPL":"苹果","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC",".IXIC":"NASDAQ Composite","SH":"标普500反向ETF",".SPX":"S&P 500 Index","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4170":"电脑硬件、储存设备及电脑周边","QLD":"纳指两倍做多ETF","VOO":"Vanguard标普500ETF","TSLA":"特斯拉","BK4507":"流媒体概念","BK4576":"AR","PSQ":"纳指反向ETF","BK4575":"芯片概念","BK4577":"网络游戏","AMZN":"亚马逊","BK4501":"段永平概念","SSO":"两倍做多标普500ETF","UPRO":"三倍做多标普500ETF","BK4579":"人工智能","BK4077":"互动媒体与服务","TQQQ":"纳指三倍做多ETF","BK4503":"景林资产持仓"},"translate_title":"美国银行：空头认为Mag 7在标准普尔的主导地位是“距离崩溃仅一步之遥”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VOO":1,"SPY":1,"GOOG":1,"AAPL":0.9,"AMZN":0.9,"META":0.9,"MSFT":0.9,"NVDA":0.9,"TSLA":0.8,"GOOGL":0.8,".IXIC":0.62,"OEF":0.6,"OEX":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SDS":0.6,"SH":0.6,"SPXU":0.6,"SQQQ":0.6,"SSO":0.6,"TQQQ":0.6,"UPRO":0.6,".SPX":0.6,"ESmain":0.6,"MNQmain":0.6,"NQmain":0.6,"IVV":0.6},"content_text":"The significant sway the Magnificent 7 mega-cap tech stocks have on the S&P 500 (SP500) could rupture from a marked slowdown in U.S. economic activity, according to Bank of America ((BofA)).  The Nasdaq-100 (NDX) and other tech-stock gauges (COMP:IND) (QQQ) have veered lower this month as investors drive into small-caps (RTY) and other overlooked sectors of the market, spurred by revived expectations for up to three rate cuts this year and technical influences. The Nasdaq-100 (NDX) has dropped nearly 4% in July. Market bulls say the “correction” is healthy, but bears say the market is “one bad payroll away from cracking” the \"monopolistic/oligopolistic dominance” of the Magnificent 7 on the S&P 500 (SP500)(SPY)(VOO), Michael Hartnett, Bank of America investment strategist, said in the firm’s Flow Show note Friday. He shared this chart of the Mag 7’s high, +30% concentration on the broad-market index: Hartnett said bears see a recessionary sign in the steepening of the 2-year/10-year (US2Y) (US10Y) U.S. Treasury yield curve.  More broadly, bears see sagging commodity prices (CL1:COM) (HG1:COM) confirming an “ill” global economy, expressed through Chinese bond yields hitting all-time lows, he said. Hartnett has previously said U.S. bonds are likely to rally in the second half of 2024 on signs economic activity could be moving toward a contraction.  This week, disappointing financial updates from Mag 7 constituents Tesla (TSLA) and Alphabet (GOOG)(GOOGL) stirred up questions about the rally surrounding corporate AI investment that's pushed the S&P 500 (SP500) and the Nasdaq Composite (COMP:IND) sharply higher this year. Meanwhile, economists are monitoring a slowing pace of U.S. labor-market growth. June’s unemployment rate rose to 4.1%, the highest since November 2021. This month’s selloff in shares of Mag 7 companies - Amazon (AMZN), Alphabet (GOOG)(GOOGL), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA) - has contributed to the Nasdaq-100 (NDX) eating into its double-digit YTD gain. But the index still holds a +23% advance over the past year. Market bulls say the correction is healthy, pointing to credit spreads being “well-behaved” and “big levels” holding in various markets, BofA said. Among levels, the Nasdaq-100 (NDX) is above 18,700, and London copper prices are above $9,000 a metric ton.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454437943"}