US Stocks-S&P 500 ends higher as investors await tech earnings
SPY•Stocks rise as chip weakness is offset by defensives
The S&P 500 ended higher on Tuesday as gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week.
Global markets have been volatile this month as investors worry that Alphabet, Microsoft, Amazon and other technology heavyweights may be overspending on AI data centers as they race to dominate the emerging technology.
Microsoft MSFT.O rose 1.1% ahead of its report on Wednesday, while Amazon AMZN.O dipped 0.2% ahead of its results on Thursday.
Apple AAPL.O climbed almost 1% to $340.08. It hit a session high of $342.89, briefly lifting its stock market value to $5 trillion for the first time. The iPhone maker reports its results on Thursday.
Chipmakers that have benefited from heavy AI spending added to recent losses, with the PHLX index .SOX losing 4.5%. It has fallen about 25% from its record-high close on June 22, and it remains up 56% in 2026.
