Today, the tech futures market is experiencing a rally as Meta Platforms, formerly known as Facebook, skyrockets, and Amazon jumps. The so-called ‘Magnificent Seven’ stocks, including Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla, have shown significant gains in 2023, making them among the best stocks to buy and watch in the stock market today.

These seven stocks, due to their outsized market capitalizations, hold a disproportionate influence on the market-cap weighted Nasdaq composite and S&P 500 indexes, impacting the overall market performance.

Looking at their performance in 2023, Amazon (AMZN) saw a remarkable 79% year-to-date increase, while Meta Platforms (META) soared by 178%. Other notable gains include Nvidia (NVDA) with a staggering 235% increase and Tesla (TSLA) with a 106% rise.

Amazon, one of the ‘Magnificent Seven’ stocks, has extended past its buy point, indicating a strong performance. The company’s earnings are due to be released after the market close, and its shares rallied 1.3% on Thursday.

Alphabet, the parent company of Google, is also in a buy range, holding above a specific buy point despite recent losses. Although the company reported fourth-quarter earnings and revenue that exceeded analyst estimates, its core advertising business slightly missed views, leading to a decline in its stock value.

Nvidia, the leading performer among the ‘Magnificent Seven’ stocks, has seen a significant year-to-date return and is currently extended past a new flat base’s buy point. The company has been making strides in the AI sector, expanding its push into AI and unveiling new offerings for chatbots, copilots, and summarization tools.

These developments in the tech futures market are indicative of the ongoing influence and performance of key players in the industry, driving investor interest and market movements.