Streetbeat News

XLK

Technology Select Sector SPDR Fund

https://www.ssga.com/us/en/intermediary/etfs/funds/the-technology-select-sector-spdr-fund-xlk

Industry

Asset Management

In seeking to track the performance of the index, the fund employs a replication strategy, which means that the fund typically invests in substantially all of the securities represented in the index in approximately the same proportions as the index. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The fund is non-diversified.

Open

231.63

Mkt cap

62B

Volume

5.6M

High

231.92

P/E Ratio

43.33

52-wk high

238.14

Low

227.95

Div yield

0.01

52-wk low

181.32

XLK has underperformed the S&P 500 since mid-April, despite a 17% gain, due to broader earnings growth across other sectors. Technology's earnings growth premium is fading, with sectors like Financials and Industrials expected to grow at similar or higher rates by late 2025. Elevated valuations for tech stocks are harder to justify as earnings growth broadens, making other sectors more attractive at lower multiples.

Portfolio Pulse from

November 14, 2024 | 4:00 pm

XLK is expected to continue its upward trend in the short term due to Trump's potential re-election and Powell's dovish monetary stance. However, rising T-Note yields and potential inflation risks pose challenges for the future.

Portfolio Pulse from

November 08, 2024 | 4:30 pm

Tech stocks surged on Friday, led by Amazon's strong earnings, but the S&P 500 is set for a second weekly decline. Amazon shares rose over 6%, boosting the tech sector. The Nasdaq 100 outperformed the S&P 500. Economic data showed weak job growth, but the unemployment rate remained steady. Major ETFs like SPY, DIA, and QQQ saw gains, while XLY outperformed and XLU lagged. Notable stock movers included Apple, Intel, and Atlassian.

Portfolio Pulse from Piero Cingari

November 01, 2024 | 6:01 pm

Tech stocks led a market downturn as Microsoft and Meta's earnings forecasts disappointed investors, causing major indices to drop. Microsoft fell over 5% due to slower Azure growth forecasts, while Meta declined over 4% due to projected capital expenditure increases. The Nasdaq 100 and S&P 500 experienced significant losses, and crypto-related stocks like Coinbase also suffered. ETFs tracking these indices, such as QQQ and SPY, mirrored these declines.

Portfolio Pulse from Piero Cingari

October 31, 2024 | 5:19 pm

Wall Street had a mixed session with AMD shares dropping 10% after disappointing earnings, affecting the semiconductor sector. Alphabet shares rose over 5% on strong earnings. SMCI plummeted 33% due to auditor resignation. Economic data showed strong job growth but slower GDP growth.

Portfolio Pulse from Piero Cingari

October 30, 2024 | 5:35 pm

Tech stocks rose as investors anticipated earnings from major companies like Alphabet and AMD. The Nasdaq 100 gained 0.7%, while the S&P 500 remained stable. Gold hit record highs, and Bitcoin neared its all-time high. Treasury yields climbed amid fiscal concerns.

Portfolio Pulse from Piero Cingari

October 29, 2024 | 5:54 pm

Investor sentiment turned optimistic as oil prices fell, boosting small-cap stocks and cryptocurrencies. The S&P 500, Nasdaq 100, and Dow saw gains, while the Russell 2000 surged 1.5%. Energy stocks weakened, with the Energy Select Sector SPDR Fund (XLE) in the red. Airlines and cruise lines rallied due to lower oil prices.

Portfolio Pulse from Piero Cingari

October 28, 2024 | 5:22 pm

Tech stocks are rallying as investors anticipate earnings from major companies like Microsoft, Apple, Meta, Amazon, and Alphabet. Tesla continues its upward trend, while the S&P 500 and Nasdaq 100 see gains. The Dow Jones is down, and the U.S. dollar is strengthening. ETFs like SPY, QQQ, and XLK are performing well.

Portfolio Pulse from Piero Cingari

October 25, 2024 | 5:19 pm

Microsoft announced new AI agent technology at its 'AI Tour' event, allowing businesses to develop autonomous AI agents. This move positions Microsoft against Salesforce, which recently launched its own AI tools. Microsoft also secured a five-year deal with the UK government for AI tools.

Portfolio Pulse from Anusuya Lahiri

October 21, 2024 | 1:45 pm

Stocks rose on Friday, driven by strong earnings reports. Netflix hit record highs with a 10% surge, while gold miners rallied as gold prices reached new records. Oil prices fell below $70, and major indices like the Nasdaq 100 and S&P 500 saw gains. ETFs such as SPY, DIA, and QQQ also rose.

Portfolio Pulse from Piero Cingari

October 18, 2024 | 5:49 pm

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