The S&P 500 is cruising at all-time highs following one of the strongest earnings seasons on record, and optimism is running high on Wall Street.
The top tech stocks like Nvidia, Alphabet, and Microsoft have been riding high this week, and the cohort is up sharply in recent months. The Roundhill Magnificent Seven ETF is up 32% in the last six months.
With the Fed widely expected to cut interest rates next week, animal spirits are high.
For Sean O’Hara, president of PacerETFs, though, the broader market has become too heavily dependent on a handful of big stocks. In his view, it’s time for investors to diversify
Where to look outside the Magnificent Seven
O’Hara’s ETF firm has $40 billion in assets under management, and while its funds include members of the Magnificent Seven, he’s growing cautious on the group of high-flying tech titans.
Speaking with…
