Q1 2024 Takeaways: The rise and fall of the Magnificent Seven

As the first quarter of 2024 draws to a close, Yahoo Finance's Head of News Myles Udland joins Market Domination Overtime to recap the market highlights of the past quarter. The S&P 500 (^GSPC) is closing the quarter at a new record high, marking the best first quarter since 2019. While 2023 saw the Magnificent Seven tech stocks fuel market gains initially, the first quarter of 2024 is ending with only four of those names — Amazon (AMZN), Meta (META), Nvidia (NVDA), and Microsoft (MSFT) — carrying the momentum. Apple (AAPL) continues to struggle, declining for three straight months. As the gains broaden to other sectors of the market, Energy, Materials, Utilities, and Financials all benefited and were the best-performing sectors for the first quarter. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. Editor's note: This article was written by Angel Smith