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The Magnificent Seven Stocks Are Roaring Back Ahead of Liberation Day

The Magnificent Seven Stocks Are Roaring Back Ahead of Liberation Day

Published: by Omor IE

Key Points

  • Stocks have recovered after a selloff early in the trading session.

  • The Magnificent Seven stocks are supporting the broader market.

  • Energy stocks and defensive stocks have also performed well.

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The stock market has done surprisingly well this week despite the significant amount of uncertainty plaguing the economy. Yesterday, the stock market made a sharp comeback after declining in the morning. That comeback was mainly driven by energy and defensive stocks.

Today, the stock market is recovering again despite multiple macros coming in worse than expected. The JOLTS data showed a weaker-than-expected labor market, and ISM data also showed higher manufacturing prices and a contraction. Most stocks went down on that news but are now roaring back. Many defensive stocks and energy stocks are extending their gains, and the Mag 7 also seems to have joined in.

Here’s a market update as of 11:30 A.M (ET) today.

  • The S&P 500 is up 17.85 points, or 0.32%.
  • The Nasdaq Composite is up 133.72 points, or 0.77%.
  • Dow Jones Industrial Average is up 42.48 points, or 0.1%.
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Buying Pressure Outweighs Macro Weakness

Selling pressure seems to have waned in the past two days. Bad macro metrics today should’ve naturally sent the stock market tumbling, especially considering “Liberation Day” tariffs are going to cause more shock tomorrow. Fortunately, that doesn’t seem to be happening, as Wall Street has pushed the market to a positive once more.

Automotive tariffs are still expected to go into effect on April 3rd, so automotive stocks have shown mixed performance.

  • Tesla (NASDAQ: TSLA): Many see this as a buy-the-dip opportunity and have pounced on the stock. It is up 5.63% today. Tesla also avoided a sharp selloff from the automotive tariffs announcement since it makes the cars it sells domestically.
  • Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL): GOOG is up 1.86%. This is also a recovery as this company has underperformed recently.
  • GE Vernova (NYSE: GEV): Up 2.7%. It is leading the gains among energy stocks.

Notable Gainers Today

  • Newsmax Inc. (NYSE: NMAX) is up 73.55% on its second day of trading.
  • Satixfy Communications (NYSEAMERICAN: SATX) is up 64.17% after announcing a merger with MDA Space.
  • Nutex Health Inc (NASDAQ: NUTX) is up 50.6% after reporting solid Q4 results.
  • Microvast Holdings (NASDAQ: MVST) is up 27% after reporting strong growth in 2024 and trouncing Wall Street estimates.
  • PVH Corp (NYSE: PVH) is up 15% after solid Q1 FY2025 results.

Notable Losers Today

  • Open Lending Corp (NASDAQ: LPRO) is down 43% after 2024 financials missed estimates.
  • Corcept Therapeutics Inc (NASDAQ: CORT) is down 14.9% as hype cools from a triple-digit surge earlier after its ROSETTA trial.
  • Orchestra Biomed Holdings Inc (NASDAQ: OBIO) is down 14.3% after reporting Q4 losses and missing revenue estimates.
  • Monopar Therapeutics Inc (NASDAQ: MNPR) is down 12.1% due to loss-related risks.
  • Endeavour Silver Corp (NYSE: EXK) is down 10.2% after acquiring a Peruvian mine.

The image featured at the top of this post is ©AndreyKrav / iStock Editorial via Getty Images.

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