, largely due to the recent pullback."We did see a little bit of an easing in some of those mega-cap names. But we're still in the high 20s for the Magnificent Seven. So you are at that point, especially given we've seen some deterioration in third quarter consensus estimates relative to second quarter, that we are a bit in that show-me environment because of valuation expansion that predated this recent pullback.
That was enough to spark some excitement surrounding that trade, giving back some of that momentum though today closing off just about a half of a percent and flipping over to the sector action where we closed today.You got technology leading the way up just about 6/10 of a percent on the flip side, utilities and energy, the underperformers there.I quickly wanna take a look at some of those chip names here ahead of NVIDIA results after the bell tomorrow night.
Well, how, how much of the market's momentum when we try to figure out, I mean, obviously we're part of the media, we're making a big deal about Nvidia's results, but, but it's just one piece of the puzzle, right?The fact that we have seen some of this broadening play out a lot of that on the back of some of this expectation when it comes to rate cuts.
Typically, if they're moving aggressively, they're combating a recession or a financial crisis or some combination, there are. Listen, there's lots of folks you mentioned in the labor market right there and obviously surrounding the weakness, especially on the heels of that latest print. But clearly we are in an environment now where you want to focus on both sides of the fed's dual mandate.
So you are at that point, especially given we've seen some deterioration in third quarter, consensus estimates relative to second quarter that we are a bit in that show me environment because of valuation expansion that pre dated this recent pullback outside of the Magnificent Seven, you're in the mid to high teens, a bit more reasonable terms of valuations.If you go back the past year, only 11% of the S and P's constituents have outperformed the index itself over the past month.
A lot is riding on this print video has been one of the biggest drivers of returns among the magnificent seven investors will listen for any more insight on the delay of Nvidia's Blackwell Chip.The company to beat and raise guidance and stick with earnings will also be getting a new batch of retail reports including Abercrombie and Fitch Foot Locker and Victoria's Secret aro be announcing second quarter results ahead of the open tomorrow.
Well, coming up shares of hand Celestial Group a soaring today on the back of their latest earnings report, we're going to speak to the company's CEO on the other side of the break, they t stocks closing higher as investors look ahead to Nvidia's potentially market moving earnings report. And so if the dollar actually drops below this level, that makes me even more bullish on the markets.You were, you were out of the office, but we did some, we did some fancy footwork with gold and let me, let me just repeat.Central banks have been huge buyers basically over the last decade and I do have a chart here.
Absolutely, I for one, I would welcome people into this space because I think we believe that our purpose is to inspire healthier living through better for you brands.We do want to see more people providing more variety so that consumers and shoppers have more assortments to pull from.What we have not historically done is invest in the brand building around those brands or having them available in distribution.We just make it really hard for you to find them.
So we think it's a great opportunity for us to make our brands and products available to more consumers when they're out shopping and really pleased with the performance that the team's driven in the past year.So our, our total c store count where our snack products are available is 48,000 stores. That means in some cases, we're offering more sizes of products, same product or we're moving it into points of distribution.So the whole goal is making it available without sacrifice for variety pack size and price point.So our goal is making sure that somebody feels like they're getting great taste, great convenience, great, better for you credentials at the price point that they want to pay.One of the big deals of the day, not a corporate merger.
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