Benzinga Market Summary: Tech Stocks Selloff Amid Weakness In Semiconductors, United Falls After The Close
Portfolio Pulse from Benzinga Newsdesk
Tech stocks experienced a selloff due to weakness in the semiconductor sector. United Airlines' stock fell after the market closed.
July 17, 2024 | 8:15 pm
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NEGATIVE IMPACT
The Invesco QQQ ETF, which tracks the Nasdaq-100 Index, is likely to be impacted by the selloff in tech stocks.
The QQQ ETF is heavily weighted towards tech stocks, which are experiencing a selloff due to weakness in the semiconductor sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The VanEck Vectors Semiconductor ETF (SMH) is likely to be negatively impacted by the reported weakness in the semiconductor sector.
SMH ETF is directly tied to the semiconductor sector, which is currently experiencing weakness, leading to a likely decline in its price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
United Airlines' stock fell after the market closed, indicating potential short-term weakness.
The post-market decline in United Airlines' stock suggests investor concerns, likely leading to short-term weakness.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70