Hope for strong tech balance sheets: Wall Street closes tighter

new York Hopes for strong balance sheets from big tech companies brightened sentiment on Wall Street at the start of the week. The leading US index, the Dow Jones, closed 0.5 percent higher at 35,411 points. The tech-heavy Nasdaq was up 0.2 percent to 14,058 points and the broad S&P 500 was up 0.4 percent to 4554 points.

The business figures of the software developer Microsoft and the Google mother Alphabet are expected on Tuesday. On Wednesday, Facebook mother Meta opens her books. “The US technology sector is in earnings season and with many stocks soaring, investors are looking for reasons to stay bullish,” said Konstantin Oldenburger, an analyst at brokerage CMC Markets. But he urged caution. “With all of these stocks posting stellar year-to-date gains, even small disappointments in numbers and outlook could trigger increased profit-taking.”