“You’re starting to see investors feeling comfortable going back into the safety of the Magnificent Seven,” Curtis said. The Roundhill Magnificent Seven exchange-traded fund, which owns Nvidia, Apple, Alphabet, Microsoft, Amazon.com, Meta Platforms and Tesla, is up nearly 5% so far in August. The resurgence of the big tech trade has helped push the S&P 500 up 3.5% so far this month too.
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