Amazon leads Big Tech ETF sharply higher as S&P 500 trades in record territory

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An exchange-traded fund that holds seven Big Tech stocks was rising sharply Tuesday afternoon, with Amazon.com Inc. posting the biggest gains in its portfolio.

The Roundhill Magnificent Seven ETF was up 1.1% in afternoon trading, according to FactSet data, at last check. Amazon was climbing 2.7%, outperforming the six other stocks in the fund’s portfolio, including Apple Inc., Microsoft Corp., Alphabet Inc., Nvidia Corp., Tesla Inc. and Meta Platforms Inc., FactSet data show.

Among this group of megacap companies, only Tesla was down during afternoon trade, posting a 0.3% decline, according to FactSet data, at last check. Big Tech stocks have a heavy weight in the S&P 500 index, whose modest rise in Tuesday afternoon trading put it in record territory.

The S&P 500 was trading at around 6,012, above its record close of 6,001.35 on Nov. 11.

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