The tech sector is showing signs of a cautious rebound, with Apple leading the charge in the S&P 500 following its optimistic guidance, which helped counterbalance weaker iPhone sales and ongoing challenges in China. Despite this, the recovery remains fragile, as broader market concerns persist. Nvidia's upcoming meeting with former President Trump introduces additional uncertainty, while the Nasdaq 100 continues to face pressure due to concerns surrounding DeepSeek. Investors are increasingly turning their attention to European equities, with the Stoxx 600 outperforming the S&P 500, and value stocks are gaining traction as a safer alternative to the overvalued big tech stocks. This shift in sentiment is also evident in the better performance of the equal-weighted S&P 500 compared to its cap-weighted counterpart, suggesting a move towards more diversified market opportunities.
The SPDR Portfolio S&P 500 Growth ETF (SPYG) has seen a positive movement, rising 1.13% to $91.67 as of 10:40 AM on Friday, January 31.