MAG7 vs the other 493: how much of the S&P 500 move is seven stocks?
Updated October 26, 2026
The "Magnificent 7" — Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla — are seven companies, but in the cap-weighted S&P 500 they carry roughly a third of the weight (34 % on Oct 26, 2026, counting both Alphabet share classes). On many days they decide where the index closes.
Measure the move in index points
A stock's contribution to the index, in points, is its weight × its return × the index level. Nvidia up 3 % at an 8 % weight moves a 7,700 index by about 18 points; a small company up 10 % at a 0.05 % weight moves it by less than half a point. Ranking members by points — pushers and draggers — shows who actually moved the index today.
MAG7 vs the rest
- MAG7 leading the rest by a wide margin: a narrow rally. Index Viz flags it when MAG7 leads by more than 1 percentage point.
- MAG7 lagging: the index can fall while most stocks rise.
- Both moving together: the move is broad.
MAG7 as one instrument
Index Viz also builds the MAG7 as a cap-weighted composite with its own chart, breadth and options positioning: each member's options count by its S&P 500 weight, so the composite's walls and Δ-flip read like those of any ticker.
