us stocks rose tuesday as investors weighed a growing slate of corporate earnings continuing to build on last weeks bounce the sp 500 has climbed four of the last six trading days and ended monday at its highest level since sept 20 some market watchers see scope for stocks to extend a bounce off nearly twoyear lows as earnings season hits its stride the market loves symmetry and that huge selloff from the september highs will result in an equal impressive rebound said jani ziedins of the cracked market blog sure maybe lower prices are ahead of us over the longer term but never forget the biggest and fastest rallies occur during bear markets and the last time i checked this was still a bear market investors were weighing results from dow components cocacola coko and 3m commm as well as general electric coge earnings after the close were due from google parent alphabet incgoogl and microsoft corpmsft see big tech has been an earnings refuge for years but safety is no longer a sure thing as the federal reserve continues to tighten with a further 75basispoint rate rise expected from next weeks policy meeting the tech sector looks especially vulnerable given its heavier reliance on more distant profits and still demanding valuations compared to value sectors said mark haefele chief investment officer at ubs global wealth management in a note in addition although the sp 500 is down by 19 this year valuations of risky assets do not yet fully reflect a bear case scenario and the market has not become cheaper relative to bonds against this backdrop we recommend hedging against nearterm downside risks by using options or structured strategies while retaining exposure to rebounds he said strategists at goldman sachs noted a steepening yield curve particularly for inflationprotected securities our market implied us recession probability model also suggests investors are willing to fade recession risk over the next year possibly helped by a betterthanexpected us earnings season so far the curve steepening and a repricing of cyclicals vs defensives has driven the implied probability lower to levels roughly in line with the 35 recession odds from our economists they said the conference board said its us consumer confidence index fell to 1025 in october from 1078 a month earlier the sp corelogic caseshiller 20city houseprice index fell 13 in august its second consecutive monthly decline