As many consumers gear up for peak travel season, one very viable option for spring break or summer vacations is a road trip. According to a Forbes Advisor Survey, 34% of Americans plan to take a road trip in 2024. Should consumers hop on the EV bandwagon before they hit the road? Yahoo Finance's Akiko Fujita joins the Live show for another edition of Travel Guide 2024: Industry Insights to give insight into the best vehicle options for drivers and what they should know before considering electric vehicles for their cross-country travels. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Apple reportedly will not go ahead with plans to build a car after spending billions of dollars and nearly a decade on it. But in the end it’s likely a good thing for the tech juggernaut.
The so-called Magnificent Seven mega-cap stocks have powered much of the S&P 500's gains. However, their dominant run may be ending, according to JonesTrading Chief Market Strategist Mike O'Rourke. O'Rourke pointed to recent earnings from Meta (META) and Nvidia (NVDA) that "shattered" expectations yet saw different market reactions. He notes the Magnificent Seven valuations have diverged "drastically," causing investors to "differentiate" between them rather than treat them as a uniform group. As growth moderates for these mega-cap stocks, O'Rourke expects "rotation" within the Magnificent Seven tech companies as investors compare valuations and future trajectories. He believes this could force funds into other promising areas of the market beyond the narrow mega-cap technology focus, like biotech and pharma. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith