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- Tesla and Apple are dropping out of the Mag 7 technology stocks
- Investors are moving their money away from top performers to poor performers
- Tesla and Boeing are the worst stocks in the S&P 500 this year
- TikTok’s fate is in the hands of the Senate
- Amazon strikes a deal with Eli Lilly to enter the weight-loss drug business
- Lennar beats expectations with sales incentives boosting new home orders
- Inflation-strapped shoppers are pressuring Family Dollar and McDonald’s
- The spring homebuying season is expected to be impacted by constrained housing supply
The Magnificent 7 technology stocks that drove the market’s strong gains in 2023 aren’t looking quite so magnificent this year. Nvidia remains the star, up 84% since Jan. 1. Facebook parent Meta Platforms is up 40%. Amazon is up 16%, and Microsoft has added 10%. But while Nvidia and Meta are among the top performers in the S&P this year, the Mag 7’s laggards are among the worst. Apple, the biggest holding of Warren Buffett’s Berkshire Hathaway, has fallen 11%, and Elon Musk’s Tesla has swooned a whopping 32% since the start of the year—only Boeing has done worse. Tesla and Boeing are the worst stocks in the S&P 500 this year. Tesla stock was down about 31% from the beginning of the year through Wednesday and Boeing shares declined about 30%. The S&P 500, overall, was up about 8% year to date. TikTok’s fate is landing in the Senate after the House easily approved a bill that would force its Chinese parent ByteDance to sell it or be blocked from U.S. app stores. Amazon.com struck a deal with Eli Lilly that gives it a way into the booming business of weight-loss drugs. Home builder Lennar said first-quarter sales incentives helped boost new home orders and deliveries despite a housing market that continued to grapple with affordability issues and elevated mortgage rates. Dollar Tree is closing 1,000 of its Family Dollar stores over the next few years, citing consumers being under pressure from inflation and reduced government benefits. The spring homebuying season will soon be upon us, but the constrained housing supply is expected to impact the market dynamics.
Factuality Level: 3
Factuality Justification: The article contains a mix of relevant information about the performance of technology stocks, Tesla, Boeing, TikTok, Amazon, Eli Lilly, Lennar, Dollar Tree, and McDonald’s. However, it includes some unnecessary details, such as the background information on the Magnificent 7 technology stocks and the spring homebuying season, which are tangential to the main topics discussed. The article also includes some biased language, such as referring to Tesla and Boeing as the worst stocks, which may not be universally accepted.
Noise Level: 3
Noise Justification: The article provides a detailed analysis of the performance of major technology stocks, including reasons for their gains and losses. It also discusses the potential impact of legislative actions on TikTok and a new deal between Amazon and Eli Lilly. The article stays on topic and provides relevant information supported by data and examples. However, there are some repetitive information and the inclusion of unrelated content such as the spring homebuying season, which slightly reduces the overall rating.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the performance of technology stocks in the market, including Nvidia, Meta Platforms, Amazon, Microsoft, Apple, and Tesla.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the performance of technology stocks in the market and does not mention any extreme events or their impact.
Public Companies: Nvidia (NVDA), Meta Platforms (META), Amazon (AMZN), Microsoft (MSFT), Boeing (BA), Alphabet (GOOGL), Apple (AAPL), ByteDance (undefined), Oracle (ORCL), Microsoft (undefined), Alphabet (undefined), Amazon.com (undefined), Lennar (undefined), Dollar Tree (undefined), McDonald’s (undefined)
Key People: Warren Buffett (CEO of Berkshire Hathaway), Elon Musk (CEO of Tesla), Brian Swint (Author), Colin Langan (Analyst at Wells Fargo), Al Root (Author), Donald Trump (Former President), Eric J. Savitz (Author), Liz Moyer (Editor), Dan Ives (Analyst at Wedbush), Janet H. Cho (Author), Josh Nathan-Kazis (Author), Emily Dattilo (Author), Geoff Meacham (Analyst at Bank of America), Ian Borden (CFO of McDonald’s), Rick Dreiling (CEO of Dollar Tree), Aarthi Swaminathan (Author), Liz Moyer (Editor), Patrick O’Donnell (Editor), Rupert Steiner (Editor)
Reported publicly:
www.marketwatch.com 
