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Market overview 2023-08-03

04.08.2023

The ongoing season of corporate reports in the US is making its own adjustments to the course of trading on major stock exchanges. It can already be noted that the second quarter's reports look a little stronger than of the previous one. Moreover, more companies are raising their forecasts for the 3rd quarter, however, the reaction to these reports on the part of market participants is more restrained than in the previous reporting period. At the same time, the reaction to negative or "in-line" reports definitely looks more aggressive. Thursday's trades became an additional confirmation of this observation, having caused a strong reaction of sellers in a number of technological companies on rather calm reporting. Otherwise, we can note the sectors of Real Estate and Housing and Utilities, which became the clear outsiders of the trades, and the Energy sector, which looked stronger than the market