Internet reports that five of the seven giants have announced results so far, with Amazon scheduled to announce it on Thursday and Nvidia expected to announce it later this month. The Big Seven boosted earnings growth and equity returns in the S & P 500, accounting for about one-third of the benchmark index. Over the past two years, more than half of the increase in the index has come from these companies, but their profit growth is slowing as spending increases. In terms of forward P/E ratios, the Big Seven are at a 40% premium to the S & P 500 as a whole, so these concerns pose a threat to their high valuations. This premium level is already narrowing, below its peak of 70% in 2023.