You Might Be Shocked to Learn Where the S&P 500 Would Be in 2023 Without the "Magnificent Seven" Stocks
The benchmark S&P 500 index has delivered a return of about 8.5% so far in 2023. That's well below its 13.7% average annual return during the past decade.
Still, investors might be surprised to know the S&P 500 has been driven higher this year by a specific group of stocks dubbed the "Magnificent Seven." The term was coined by Bank of America analyst Michael Hartnett to describe seven of America's top technology giants, which currently make up almost 28% of the index's value.
The other 493 companies in the S&P 500 -- which make up the remaining 72% of its value -- are actually weighing it down in 2023. Here's how different the stock market's performance would be this year without the Magnificent Seven.
Source Fool.com
