The Magnificent Seven stocks diverged in early afternoon trading Wednesday, putting the S&P 500’s modest gain in jeopardy.
The S&P 500 was up just 0.1% shortly after 2 p.m. ET. The Nasdaq Composite was also off its highs of the day but still nursing a 0.7% gain. The Dow was down 252 points, or 0.6%.
Alphabet and Apple continued to lift the S&P and Nasdaq in the wake of a court decision that will allow the former to pay the latter to make Google the default search engine on iPhones despite antitrust worries. Tesla was also up 2.8%, but the rest of the Mag 7 stocks were struggling to hold on.