The so-called Magnificent Seven — the grouping of tech stocks comprised of Amazon (AMZN), Apple (AAPL), Alphabet (GOOG, GOOGL), Nvidia (NVDA), Meta (META), Microsoft (MSFT), and Tesla (TSLA) — have begun a bit of a rotation as Apple closed the day higher while Nvidia and Amazon began to slump.

According to data from the Carson Group, S&P 500 (^GSPC) earnings expectations are at an all-time high. The "Sahm Rule" — a recession indicator that tracks when the three-month moving average of the jobless rate rises by at least a half-percentage point from its low during the previous 12 months — could be on the cusp of being triggered.

Yahoo Finance Senior Markets Reporter Jared Blikre joins Asking For A Trend to break down the latest market trends and what they could mean for markets (^DJI, ^IXIC, ^GSPC) moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Nicholas Jacobino