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Mag Seven Q3 Earnings Seen Underperforming Broader Market Performance This Season: Russell Investments
Stocktwits ·
Stocktwits reports: A shift in corporate profit momentum is taking shape, with indications that the “Magnificent Seven” could underperform the broader S&P 500 index as third-quarter earnings season gets underway, early estimates from Russell Investments show. The "Magnificent Seven" tech powerhouses are projected to record a 20.3% year-over-year profit gain for the period, Russell estimates showed, as quoted by CNBC. Meanwhile, earnings for the remaining S&P 493 constituents are expected to…