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News

The Market Glance for October 23: Tech Boom Continues

Asif Imtiaz Oct 23, 2017


As the tech sector continues to grow at an astounding rate and surged past its dotcom-era peak, this week a number of tech earnings will offer investors a better understanding of how the big players performed in Q3.

A handful of large-cap tech companies, including the mother company of Google, Alphabet (GOOG ), and Microsoft (MSFT ), will release their earnings this week and may push the S&P 500 information technology index reading to another new high after it inched closer to 1,260 last week.

While most sectors of the economy experienced above-average growth this year that lifted real GDP to 3.1% in Q2, the housing sector faced a number of obstacles and the new home sales data this week may raise additional concerns if the figure continues to show a downtrend. Nonetheless, markets will focus more on the advance GDP scheduled to be released on Friday.

To sum up, expect increased volatility after Wednesday, as several economic data will be released.

Check out last week’s Market Glance here in which investors focused on a number of Wall Street earnings.

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