Tech Stocks Take Driver’s Seat in Earnings Run-Up: Markets Wrap
- S&P 500 climbs back above its make-or-break 4,000 level
- Morgan Stanley’s Wilson says US equities not pricing weak data
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Tech stocks led gains on Wall Street, with the most-influential segment of the US equity market about to kick off earnings in a test of the S&P 500’s 12% surge from its October low.
Giants like Microsoft Corp. and Texas Instruments Inc. are set to report results that will help shape the fate of a sector that last year faced a reckoning amid higher rates. While some traders are bracing for the group’s worst earnings slump since 2016, pessimism has recently faded as tech firms cut costs and inflation showed signs of easing. The Nasdaq 100 saw its best two-day run since November.