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 is palpable as they await Apple's earnings announcement, which could further influence market dynamics. The mixed performance within the tech sector highlights the market's sensitivity to sector-specific developments, where negative news from leading firms can overshadow positive earnings from others.
The Vanguard S&P 500 ETF (VOO) has experienced a modest increase, rising 0.35% to $555.32 as of 12:00 PM on Thursday, January 30.