Wall Street Nears Record Highs With Help From Mag 7

U.S. equity markets rallied strongly during Thursday's session, pushing major benchmark indices near all-time record highs, primarily driven by robust momentum across the Magnificent Seven mega-cap technology stocks. The Roundhill Magnificent Seven ETF gained 2.7% to trade at $70.58, placing it within striking distance of its previous record closing price of $70.94. The tech-led advance saw broad participation across mega-cap leaders. Tesla spearheaded the rally with a sharp 7.0% surge, followed closely by Meta Platforms which advanced 3.5%. Microsoft also posted solid gains of 3.1%, while other mega-cap heavyweights including Apple, Amazon, Nvidia, and Alphabet each logged advances exceeding 1.0%. Across broader market benchmarks, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all traded firmly higher alongside easing volatility, as the VIX index retreated to 14.59. Treasury yields saw a slight pullback, with the 10-year yield easing to 4.758%, offering supportive financial conditions for high-valuation equities and boosting overall market sentiment.