Major indexes on the other side of the Atlantic finished higher, with the world's largest technology companies fueling the upward move.
North American stock markets closed in the green, with technology stocks giving the biggest boost, as operators await a barrage of results from US companies that will test the $4 billion rally already recorded this year on Wall Street.
Expectations that the “magnificent seven” technologies will do well have fueled the sector. Apple, Microsoft, Alphabet, Amazon, MetaPlatforms, Nvidia, and Tesla are the seven North American-listed companies that have contributed significantly to the excellent performance of the technology sector on US stock exchanges and are therefore considered the “Big Seven” – especially because they are also well-capitalized companies. My market is high.
The Standard & Poor's 500 Index, the global benchmark, closed with a gain of 0.74% to 5,199.06 points. The Nasdaq technology index also ended up 1.68% to 14,442.20 points.
The Dow Jones Industrial Average ended up giving up slightly in the final minutes of the session, closing down 0.01% to 38,459.08 points.
Listed companies are therefore benefiting from market expectations regarding results, with 'earnings season' in full swing from this Friday – with JPMorgan Chase, Wells Fargo and Citigroup all in full swing.
A strong economy is expected to drive earnings growth for S&P 500 companies for the second straight quarter, and strong margins from “big tech” are expected to be a key “driver,” Bloomberg highlights.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.