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Benzinga
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Tech Stocks Eye Record Highs As Magnificent Seven Top $19.5 Trillion: What's Moving Markets Friday?

1. Tech stocks rebounded strongly, boosting S&P 500 by 0.8%. 2. Apple gained 3.5%, obtaining the strongest week since August 2020. 3. Magnificent Seven's market cap hit $19.5 trillion, matching last month's peak. 4. Trump's gold tariff could impact commodities markets, influencing investor sentiment. 5. Geopolitical developments may add uncertainty but didn't majorly impact tech stocks.

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FAQ

Why Bullish?

The strong performance of major tech stocks signals economic resilience, similar to 2020 recovery patterns. Historically, tech sector strength correlates with S&P 500 growth.

How important is it?

The notable rebound in tech stocks directly correlates with S&P 500 trends, given tech's significant market weight.

Why Short Term?

Current positive sentiment and tech performance are likely to influence S&P 500 in the coming weeks, resembling previous short-term rallies.

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