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's overall health remains robust. However, investor caution persists, particularly with Apple's upcoming earnings announcement, which has added to the sector's volatility.
The Direxion Daily S&P 500 Bull 2X Shares (SPUU) has managed to edge higher, rising 0.59% to $155.78 as of 12:00 PM on Thursday, January 30.