Shares of Tesla (NASDAQ:TSLA) and Alphabet (NASDAQ:GOOGL) are spearheading a recovery in the Magnificent Seven group on Friday, following a downturn in the previous trading session.
The group, which includes seven of the most influential tech stocks, is set to bounce back as US stock futures are showing an upward trend.
The Magnificent Seven shares are experiencing varied movements. Tesla’s shares are up by 0.9%, while Alphabet’s and Nvidia (NASDAQ:NVDA)’s are up by 0.7%,
The Magnificent Seven group suffered a loss on Thursday, with an equal-weighted index of the group falling over 1%, bringing an end to a five-session winning streak. So far this year, the index has declined 4.8%.
In a wider perspective, tech stocks are poised to continue their upward trajectory. This positive trend has been fueled by a series of AI-related deals that have been announced during President Donald Trump’s tour of the Middle East.
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