From Nasdaq

Stock fund managers must choose in 2024 whether to stick with the few massive growth and technology names, which have been leading the market higher or take a shot on the rest of the market. Due to their heavy weightings in the S&P 500, the so-called Magnificent Seven have been responsible for nearly two-thirds of the benchmark index’s 24% gain this year. The rally is broadening to include other areas of the market, such as small-cap and equal-weight S&P. Factors for the market next year include whether inflation continues to ebb, allowing the Fed to cut rates and the continued resilience of the U.S. economy. However, the prominence of the Magnificent Seven means that they are widely owned by mutual funds and ETFs and may benefit as money comes off the sidelines into stocks. Big year for big stocks with all seven anticipated to draw investors as money comes off the sidelines.

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Read more: YEARENDER-Can sizzling Magnificent Seven trade keep powering US stocks in 2024?