6 August
S&P 500 rise ahead of Big Tech earnings
The S&P 500 Index is rising as investors await a wave of quarterly reports from major technology companies.
Defensive market segments, including health care and consumer staples, showed a rising trend in demand on the broader trading platform, with the latter helped by a jump of nearly 7% in HCA (NYSE:HCA) shares. Sentiments for health care stocks showed a positive trend as investors assess sectors that may be less vulnerable to the risk of slower economic growth and higher interest rates.
Goldman Sachs said in a note that their recommendations for excessive economic loads (health care, power industry, telecommunications, consumer goods) are generally defensive and reflect significant earnings and valuation risks in an environment of higher inflation and interest rates.
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