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Investing.com — The S&P 500headed for yet another record close Thursday as big tech names rebounded.
Megacap tech stocks kept the overall tech sector trending above the flatline despite pressure from Intel Corporation (NASDAQ:INTC)and Micron Technology Inc (NASDAQ:MU)
The two chip giants fell sharply, in contrast, after Morgan Stanley (NYSE:MS) delivered a cautious note on the outlook for the sector amid worries of a glut in memory supply on the horizon.
Oil remained under pressure a day after the White House called on top oil producing nations to boost production to support the global recovery.
The broader weakness in cyclicals could prove short lived as some on Wall Street forecast that the bottom is in for cyclicals, with gains expected ahead.
Looks like a quiet summer Friday lined up, with very little in the way of data or earnings reports scheduled. Here are three things that could affect markets tomorrow:
1. Soft drinks earnings
Honest Company Inc (NASDAQ:HNST) is expected to announce a second-quarter loss per share of 18 cents on revenue of $78.81 million.
2. Live events reading
Madison Square Garden Entertainment Corp (NYSE:MSGE), manager of sports and live entertainment venues like Madison Square Garden and Radio City Music Hall in New York, is seen posting revenue of $71.46 million and aloss per share of $3.31 for the fourth quarter.
3. Consumer sentiment
The preliminary reading of the U.S. consumer sentiment for August, as reflected in the University of Michigan’s Consumer Sentiment Index, is seen being unchanged from last month at 81.2.
