Nasdaq Soars to New High as Mag 7 Stocks Rally

The Nasdaq Composite Index surged to a new record high on Friday, driven by a rally in the so-called "Magnificent Seven" tech stocks. The index gained 1.1% to close at 16,275, up 1.7% over the week. The S&P 500 advanced 0.8% to finish the week 1% higher, while the Dow Jones Industrial Average ticked up 0.2% on Friday but ended the week down 0.1%. The rally in the Magnificent Seven stocks, which include Nvidia (NVDA), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Alphabet (GOOGL), and Tesla (TSLA), was sparked by better-than-expected earnings from Dell Technologies (DELL). Dell's shares soared after it said AI-optimized server orders jumped nearly 40% in the fourth quarter, highlighting the computing pioneer's opportunity to gain from artificial intelligence investment. New York Community Bank (NYCB) tumbled after it delayed a regulatory filing, citing an assessment that found "material weaknesses in the Company's internal controls related to internal loan review." The bank also named Alessandro DiNello chief executive officer, replacing NYCB veteran Thomas Cangemi.

The recent earnings reports and guidance from the Magnificent Seven (Mag 7) companies have significantly contributed to their rally and the Nasdaq's record high. Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, and Nvidia all reported strong earnings and provided positive guidance, boosting investor confidence. Alphabet's revenue growth of 13% and earnings per share (EPS) of $1.06 beat expectations, while Amazon's EPS of $0.15 also surpassed estimates. Apple's EPS of $1.52 and revenue growth of 18% were both above expectations, and the company raised its dividend and share buyback program. Meta Platforms reported EPS of $2.75 and revenue growth of 17%, while Microsoft's EPS of $2.22 and revenue growth of 18% also beat estimates. Netflix's EPS of $3.59 and subscriber growth of 10 million were both above expectations, and the company raised its guidance for the next quarter. Nvidia's EPS of $1.36 and revenue growth of 35% were both above estimates, and the company raised its guidance for the next quarter. These strong earnings reports and positive guidance have driven the rally in the Mag 7 stocks and contributed to the Nasdaq's record high.



The Nasdaq Composite Index surged to a new record high on Friday, driven by a rally in the so-called "Magnificent Seven" tech stocks. The index gained 1.1% to close at 16,275, up 1.7% over the week. The S&P 500 advanced 0.8% to finish the week 1% higher, while the Dow Jones Industrial Average ticked up 0.2% on Friday but ended the week down 0.1%. The rally in the Magnificent Seven stocks, which include Nvidia (NVDA), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Alphabet (GOOGL), and Tesla (TSLA), was sparked by better-than-expected earnings from Dell Technologies (DELL). Dell's shares soared after it said AI-optimized server orders jumped nearly 40% in the fourth quarter, highlighting the computing pioneer's opportunity to gain from artificial intelligence investment. New York Community Bank (NYCB) tumbled after it delayed a regulatory filing, citing an assessment that found "material weaknesses in the Company's internal controls related to internal loan review." The bank also named Alessandro DiNello chief executive officer, replacing NYCB veteran Thomas Cangemi.



The recent earnings reports and guidance from the Magnificent Seven (Mag 7) companies have significantly contributed to their rally and the Nasdaq's record high. Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, and Nvidia all reported strong earnings and provided positive guidance, boosting investor confidence. Alphabet's revenue growth of 13% and earnings per share (EPS) of $1.06 beat expectations, while Amazon's EPS of $0.15 also surpassed estimates. Apple's EPS of $1.52 and revenue growth of 18% were both above expectations, and the company raised its dividend and share buyback program. Meta Platforms reported EPS of $2.75 and revenue growth of 17%, while Microsoft's EPS of $2.22 and revenue growth of 18% also beat estimates. Netflix's EPS of $3.59 and subscriber growth of 10 million were both above expectations, and the company raised its guidance for the next quarter. Nvidia's EPS of $1.36 and revenue growth of 35% were both above estimates, and the company raised its guidance for the next quarter. These strong earnings reports and positive guidance have driven the rally in the Mag 7 stocks and contributed to the Nasdaq's record high.