S&P 500

While much of the communication services sector has experienced gains in 2023, the three-week rally has done little to remedy substantial market capitalization ...

The sector's five largest companies have lost a combined $1.418 trillion in market cap since the end of 2021, according to S&P Global Market Intelligence data. Similarly, Meta Platforms Inc., which fell 64.2% in 2022, has risen 11.7%, and Warner Bros. Nearly all of the communication services stocks that lost the most ground in 2022 have recorded sizable gains so far in 2023. Since then, communications sector stocks have underperformed the broader index. Match Group Inc., which fell 68.6% in 2022, rallied 22.8% over the first three weeks of 2023. The S&P 500 communication services sector, which fell by more than 40.4% in 2022, has risen by about 9.6% so far in 2023, the best-performing sector in the large-cap index over the first three weeks of the year.

The cryptocurrency has a tendency to lead stocks higher or lower from market tops and bottoms. This time, it could be getting ahead of itself.

](https://www.barrons.com/market-data/cryptocurrencies/btcusd?iso=coindesk) and tech stocks keep marching higher, they risk becoming divorced from fundamentals [and vulnerable to a nasty surprise](https://www.barrons.com/articles/bitcoin-price-crypto-markets-today-51674124911?mod=article_inline). [after a brutal 2022](https://www.barrons.com/articles/2022-year-review-stocks-bear-market-oil-bond-yields-2023-51672386739?mod=article_inline).

The popping of the bubble in US stocks is far from over and investors shouldn't get too excited about a strong start to the year for the market, ...

Grantham believes the index is likely to spend some time below that level during 2023, including around 3,000. [in a paper](https://www.gmo.com/americas/research-library/after-a-timeout-back-to-the-meat-grinder_viewpoints/) out Tuesday. In fact, the 84-year-old money manager calculated that the value of the S&P 500 at the end of the year should be about 3,200, he says

'Realistically, we tag 3200 to 3300 on the S&P 500,' warns veteran trader Jeffrey Bierman.

It damaged the mindset of the average individual. The only thing that matters is that the Fed is providing easy liquidity and to hell with anything else. This is the excess that has to be worked off. That helped create an inflationary bubble and all of a sudden the market’s mindset changed. The final stage of a bear market is capitulation, when investors give up. That’s when we know we are close to the end of the bear market. I call it a slow-motion bear market — think of it as progressive stock bloodletting. This is not a market where you will get “gamma squeezes,” (when a stock soars in a short time period). That’s when everyone thinks the bear market is over. Value dominates in a bear market, and growth dominates in a bull market. I call this the “fits and starts” market. [SPX, -0.07%](/investing/index/SPX?mod=MW_story_quote)high he predicted a drop to 3600 or lower in 2022, and he was right.

Corrections & Amplifications: A previous version of this article misstated the moves for gold futures, Brent crude futures, and the VIX.

](https://www.barrons.com/market-data/stocks/crm) ](https://www.barrons.com/market-data/stocks/aqua) The figures have been corrected.

6.30am: Microsoft set to release quarterly results after the close Wall Street is set for a lower opening as traders mark time ahead of quarterly results...

Tesla and Boeing report on Wednesday, in a week that sees an estimated quarter of the S&P 500 reporting. The Nasdaq led US stocks higher on Monday as the markets started a busy week of earnings and economic data on the front foot. “Microsoft gets set to deliver earnings after the bell having added to the chorus of job cuts facing Big Tech just last week, providing a boost to the sector. “The US data slate is also dominated by PMI data due later today,” noted TickMill Group’s market analyst Patrick Munnelly. Nonetheless, US companies continued to highlight subdued customer demand and the impact of high inflation on client spending. The headline flash US PMI composite output index registered 46.6 in January, up from 45.0 at the end of 2022. “Microsoft earnings provide the big corporate story of the day, with investors and traders alike expecting to see the giant lose traction on both earnings and profit-front," said Joshua Mahony, senior market analyst at online trading platform IG. “Focus this week is on US GDP figures which are out on Thursday for clues into the strength of the US economy,” she added. At the close, the DJIA was up 0.8% at 33,630 points, the S&P 500 added 1.2% to reach 4,020, and the Nasdaq gained the most to close at 11,364 points. Just after the market opened, the Dow Jones Industrial Average shed 166 points to 33,463, while the S&P 500 eased 27 points at 3,993 and the tech-heavy Nasdaq Composite lost 45 points to 11,320. At midday, the Dow was up 12 points to 33,641, the Nasdaq Composite was 4 points lower to 11,361 and the S&P 500 lost 5 points to 4,015. The Dow led the way at the close with a gain of 0.3% to finish at 33,734 points, but it was the only winner out of the three main indices: the S&P 500 finished flat at 4,012 and the Nasdaq had dropped 0.3% at 11,334 points.

Tuesday appears to be another lackluster day for the markets as mixed statistics join China's absence from the markets, as well as the Fed blackout, t.

Bitcoin price has been one of the critical reasons for this recent uptrend in the crypto market. AUD/USD is extending the latest gains to challenge the 0.7100 hurdle amid a broadly subdued US Dollar so far this Wednesday. For the fiscal second quarter, it reported adjusted earnings per share of $2.32, in line with Wall Street estimates, but revenue of $52.7 billion missed the consensus forecast by $450 million. The author makes no representations as to the accuracy, completeness, or suitability of this information. The major currency pair has sharply moved higher after sensing a responsive buying action from the critical support of 1.0840. The author has not received compensation for writing this article, other than from FXStreet. The author will not be held responsible for information that is found at the end of links posted on this page. Louis Federal Reserve (FRED) data rise for the third consecutive day, to 2.28% each, which in turn justify the pre-blackout hawkish Fed comments and challenge the sentiment. Alternatively, receding woes of the impending economic slowdown and China-linked optimism in the market keep the traders positive. It also does not guarantee that this information is of a timely nature. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. While portraying the mood, the S&P 500 Futures resist following Wall Street’s gains while retreating from the six-week high marked the previous day, making rounds to 4,030-35 at the latest.

The Nasdaq Composite and S&P 500 each posted their highest finish since Dec. 2, according to Dow Jones Market Data. What's driving markets. Wall Street picked ...

+2.22% [XYL,](/investing/stock/XYL?mod=MW_story_quote) +2.12% [in an all-stock deal valued at $7.5 billion](https://www.marketwatch.com/story/evoqua-water-stock-soars-after-xylems-all-stock-buyout-bid-represents-29-premium-01674476074?mod=mw_quote_news&mod=article_inline). [GOOG,](/investing/stock/GOOG?mod=MW_story_quote) -1.98% [GOOGL,](/investing/stock/GOOGL?mod=MW_story_quote). [GE, +1.17%](/investing/stock/GE?mod=MW_story_quote), Johnson & Johnson [JNJ,](/investing/stock/JNJ?mod=MW_story_quote), Microsoft Corp. [MSFT,](/investing/stock/MSFT?mod=MW_story_quote), Tesla Inc. -0.26% [INTC,](/investing/stock/INTC?mod=MW_story_quote)deliver updates. +1.99% [IBM,](/investing/stock/IBM?mod=MW_story_quote)and Intel Corp. [AQUA,](/investing/stock/AQUA?mod=MW_story_quote)surged 15.2%, after the water and wastewater treatment company agreed to be acquired by Xylem Inc. -0.22% [TSLA,](/investing/stock/TSLA?mod=MW_story_quote), Verizon Communications Inc. +0.10% [VZ,](/investing/stock/VZ?mod=MW_story_quote), International Business Machines Corp. The LEI is a gauge of 10 indicators designed to show whether the economy is getting better or worse. [AMZN, -1.23%](/investing/stock/AMZN?mod=MW_story_quote)and Google parent Alphabet Inc. “The strength of the global economy is a big question this week and next as industrials and technology companies gear up to report earnings.