Wall Street calls them 'the Magnificent 7': They're the reason why stocks are surging
The S&P 500 has surged this year, but most of those gains are thanks to a handful companies nicknamed "The Magnificent Seven." And that's worrying Wall Street.
The year started with a lot of anxiety about a potential recession, but it's ending with Wall Street on a tear.
The S&P 500, a broad-based group of stocks that includes many of the world's biggest and best-known companies, is up more than 21% so far this year.
That is remarkable given how much the Federal Reserve has hiked interest rates and how much uncertainty remains about the economy.
But the S&P 500's gains, eye-popping as they are, haven't been widely shared — and that is making some people nervous.
In fact, as it turns out, the S&P 500's impressive performance is actually thanks almost
