It's been another heavy-hitting day of economic news and corporate earnings. Here are some of the top takeaways from several Yahoo Finance guests today:
Piper Sandler Managing Director Craig Johnson dubs Magnificent Seven tech stocks as "the Lag 7" as several of the group's components begin to fall behind.
Target COO and CFO Michael Fiddelke explains the retailer's growth outlook while the company continues to see resiliency from American consumers
IDX Advisors Chief Investment Officer Ben McMillan finds investor exposure to crypto to be broadening on spot bitcoin ETF listings.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
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CRAIG JOHNSON: We then look at this concentrated market, it's been great. It's pushed everything higher. That being said, we think the Mag Seven is going to become the lag 7. As they're going to end up consolidating in here, we're going to start to see a broadening out of this market.
MICHAEL FIDDELKE: We're excited to see inflation start to normalize. We think that's a good thing for the consumer. Within our business, I think we see some signs of that, rebalancing of the consumer spending portfolio with the improvement we saw in our discretionary categories in Q4.
BEN MCMILLAN: We're going to start seeing Bitcoin allocations pop up in all financial advisors model portfolios as they make plans. Now all of a sudden Bitcoin is an easy asset class for them to put into these portfolios.
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