As the stock market shows signs of recovery from a rocky start to the year, investor attention is turning to the earnings season as a key driver for continued gains. The S&P 500 Equal-Weight index has been outperforming the main index, suggesting a broader sector participation beyond just technology stocks. This shift is underscored by Deutsche Bank's observation that a record 68% of S&P 500 constituents have risen for six consecutive days, contrasting with December's limited market breadth. The upcoming earnings reports, particularly from tech giants like Tesla, Microsoft, and Meta, are expected to play a crucial role in sustaining market momentum, especially given their substantial impact on profit growth. Positive earnings from financial institutions, such as JPMorgan Chase, have already set a favorable tone for the market.
The MAX S&P 500 4X Leveraged ETN (SPYU) has experienced a notable increase, rising 1.88% to $52.11 as of 09:40 AM on Wednesday, January 22.