At the close: Tech lags as earnings roll in
Closing changes for the main North American markets:
- S&P 500 -1 to 4186
- Nasdaq -0.3%
- DJIA - flat
- TSX +0.15%
Earnings are rolling out with Google blowing away estimates and climbing while MSFT sinks on results. During the trading session it was Google struggling and Microsoft finishing at the highs, which goes to show that not everything leaks.
Visa also beat and I'll be looking for commentary on consumers.
Expect much more volatility in the main index for the remainder of the week as the Fed sets the tone. The mode lately has been to sell stocks after the Fed. Of course, every dip in the past year has been a buying opportunity.