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Obscure volatility measure hints at a potential Magnificent Seven earnings surge

The view hinges on whether the S&P 500 can push to a new record level, which the measure suggests may depend on the biggest mega-cap earnings performers.

Reported · Written up by our desk · Indices

CNBC Markets highlighted an obscure volatility gauge as a clue to what could drive the next leg higher in US stocks, tying the outlook to the “Magnificent Seven.”

The outlet’s premise is that if the S&P 500 is going to reach a new record, the mega-cap group may need to regain momentum through its upcoming earnings cycle.

Under that scenario, the volatility measure points to a potential earnings breakout led by the largest constituents of the index, rather than a broad, bottom-up rally elsewhere.

Latest closeS&P 500 7,765.36 ▼0.5%

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