The group of megacap tech stocks that is made up of Apple, Amazon.com, Tesla, Microsoft, Nvidia, Alphabet, and Meta Platforms was on pace for its second-largest one-day market cap gain; the group added $1.85 trillion in market cap on April 9 when President Donald Trump paused his “reciprocal tariffs” beyond 10% for 90 days.
The Roundhill Magnificent Seven ETF, which offers exposure to the group, was up 5.6% to $50.58. That would be its highest close since Feb. 28. It’s now only down 13% from its Dec. 17 record close.