The tech sector's mixed performance is impacting the broader market, with major players like Microsoft and Nvidia issuing disappointing forecasts that have weighed on investor sentiment. Despite these sector-specific challenges, the S&P 500 has shown resilience, buoyed by positive economic sentiment and strong earnings from companies like Tesla and Meta. The market remains cautious, however, as investors await Apple's earnings announcement, which could further influence market dynamics. The divergence in tech sector performance highlights the sensitivity of investors to negative guidance from leading firms, even as the majority of S&P 500 constituents trade higher.
The ProShares Ultra S&P500 ETF (SSO) has experienced a modest increase, rising 0.79% to $97.75 as of 12:00 PM on Thursday, January 30.