Why does the market stay low when waiting for big companies' earnings?

The US stock market was slightly lower today while investors are waiting for the earning reports coming from several large tech companies, such as Microsoft, eBay and Advanced Micro Devices (AMD). It has not been a great time for the tech industry that many big names from the tech industry have suffered sharp slides. Currently the market has been cautious about the performance of the tech industry. A year ago, Nvidia was the rising star in the tech industry, its share price was pushed up by the rising game businesses and cryptocurrency mining businesses; however, this year, the magic has gone, the share price approximately halved. Moreover, many investors are worrying about the possibility of the market's entering a bear market. When investors in the market are more cautious, they will not make rush decisions before earnings, when fewer trade decisions are made, the market become less active. When the market is less active, the market price will also seem inactive and have very limited change.

This is not always the case that sometimes the market can be very excited about the upcoming earning reports when the time is good. At the moment, the time is not good and investors are slightly panic about the earnings. However, the investors are not too depressive or too worried, they are still hoping something fantastic that can happen in the tech industry, so they are still waiting instead of acting. The market was lower today, but not crucially lower; the market is still stable, but at its edge of falling if no good news is coming out.