(Reuters) – The S&P 500 climbed toward a record high on Monday, supported by expectations of lower interest rates, while investors awaited quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week.
Facebook Inc (FB.O) rallied 2.0% ahead of its report due out after the bell on Wednesday, while Amazon.com Inc (AMZN.O) and Google-parent Alphabet Inc (GOOGL.O) were each up more than 0.7% ahead of their reports on Thursday.
Investors’ reactions to the reports of these top-tier growth companies could affect broader market sentiment, with the S&P 500 about 1% below its July 15 record high close.
“How is that going to affect my other tech holdings and the market overall? That is more worrying than my actual investment in Alphabet,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
The technology index .SPLRCT jumped 1.2%, the most among the S&P sectors, while the Philadelphia chip index .SOX surged almost 2%….
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