S&P 500 Rises Slightly, Awaiting Big Tech Earnings
The US S&P 500 index edged higher on Tuesday (January 27th) as the market kicked off the earnings week on a positive note, while still holding its breath ahead of this week's Fed interest rate decision. The benchmark index rose about 0.2%, while the Nasdaq was stronger, gaining 0.6%, boosted by large technology stocks.
In contrast, the Dow Jones Industrial Average was under pressure, falling about 402 points (-0.8%). The main drag came from UnitedHealth, which plunged about 16%, holding back the index's more value/defensive performance.
The market is now focused on the next "big test": the results of tech giants. More than 90 S&P 500 companies are scheduled to release earnings this week—Meta, Microsoft, and Tesla on Wednesday, followed by Apple on Thursday. So far, the earnings season has been solid: about three out of four S&P 500 companies have beaten expectations, according to FactSet.
Source: Newsmaker.id
