The tech sector's struggles are casting a shadow over the broader market, with major players like Microsoft and Nvidia issuing disappointing forecasts that have dampened investor sentiment. Despite this, the S&P 500 is showing resilience, buoyed by positive economic sentiment and strong performances from other sectors. Approximately 80% of S&P 500 constituents are trading higher, indicating that the market is finding support outside the tech sector. Investor caution remains, particularly with Apple's upcoming earnings announcement, which has added to the mixed performance within the index.
The iShares Core S&P 500 ETF (IVV) has edged up 0.34% to $606.94 as of 12:00 PM on Thursday, January 30.