Market update: mixed sector performance

What happened: On July 1st, ServiceNow (NOW) underperformed the broader tech sector, with a market cap of $128.2 billion. The S&P 500 Index was mixed, with the Dow Jones up 0.54% and the Nasdaq down 0.44%. Energy and software stocks dragged the market, while healthcare stocks outperformed, driven by defensive investor sentiment. Stocks were pressured by weakness in energy producers and cybersecurity stocks.

Market impact: Tech stocks, particularly software companies like ServiceNow, faced selling pressure. Energy stocks, such as those in the Dow Jones, dragged the broader market lower. Healthcare stocks, including those in the S&P 500, saw increased demand, outpacing the broader market. The Nasdaq 100 underperformed due to weakness in tech and software stocks.

What to watch next: On July 2nd, investors await earnings reports from companies like Netflix (NFLX) and Square (SQ). The market will also closely monitor geopolitical developments, particularly any fresh news from the Middle East, which could impact oil prices. Additionally, investors will keep an eye on the June jobs report, due on July 8th, for insights into the U.S. economic recovery.