Shares of technology companies ticked up amid optimism ahead of earnings reports.

So far this year, the mega-cap tech companies known as the "Magnificent Seven," which include Alphabet's Google, Apple, Microsoft and Amazon.com, all of whom report earnings this week, have represented the vast majority of gains on the S&P 500, said one strategist.

"With four of the seven reportig this week, perhaps we'll have a better idea if they're going to continue their dominace," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Vista Equity Partners agreed to buy business-software company EngageSmart for $4 billion, one of the largest private-equty deals since the spike in Treasury yields caused many firms to slow dealmaking activity.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

10-23-23 1709ET