Why Big Tech Faded Into the Close Ahead of Earnings

The Wednesday session closed red as institutional traders trimmed risk ahead of mega-cap earnings and rising energy costs. Here is why.📊 THE SCOREBOARD:🚀 Winner: Utilities (+2.28%) and defensive value like AT&T (+4%)📉 Laggard: Communication Services (-1.29%) and Semiconductors (-4% intraday fade)🔮 THE LOOK AHEAD:🔔 The #1 thing to watch tomorrow: Reaction to after-hours earnings from Alphabet and Tesla, and whether the S&P 500 can hold the crucial 7,488 support level amid surging crude oil prices.Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.