Market overview 2023-07-17

Buying in major technology companies allowed the U.S. stock market to start the new trading week in positive territory. Shares of all market sectors, led by the Technology sector, tried to connect to the growth, however, with the exception of only the Industrial sector, with its modest gain of 0.4 percentage points, no one succeeded and all other market sectors closed in the red zone. Amid continuing company reports and uncertain inflation data, expectations that the Technology sector will be able to continue "dragging" the major U.S. stock indices upward remain quite unstable, and market participants prefer to take cautious positions, which is evident from the relatively low trading turnover.