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

210.38

Mkt cap

58B

Volume

4.9M

High

214.15

P/E Ratio

33.97

52-wk high

243.14

Low

210.38

Div yield

0.01

52-wk low

190.75

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

Nvidia's Blackwell chips face production delays, impacting key clients like Amazon's AWS and Dell. Despite this, Nvidia's CEO reassures that demand remains strong, with expectations of significant revenue. Amazon's partnership with Databricks challenges Nvidia's market position. Nvidia's stock has surged over 227% in the past year.

Portfolio Pulse from Anusuya Lahiri

October 18, 2024 | 3:30 pm

The semiconductor sector led a market rally, with Nvidia reaching record highs and TSMC's strong earnings boosting tech sentiment. The iShares Semiconductor ETF rose 2.3%. Gold hit new highs despite rising Treasury yields. The U.S. dollar strengthened, and major indices saw mixed performances.

Portfolio Pulse from Piero Cingari

October 17, 2024 | 5:28 pm

ASML's earnings leak led to a significant drop in its stock and affected the semiconductor sector, with major players like NVIDIA and Arm Holdings also seeing declines. Energy stocks fell due to a drop in oil prices, while financials and small caps outperformed, driven by strong earnings from banks.

Portfolio Pulse from Piero Cingari

October 15, 2024 | 5:37 pm

The S&P 500 and Dow Jones Industrial Average hit record highs as investors anticipate key earnings reports. Bitcoin's rally boosts crypto stocks, while commodities decline. Notable stock movements include Vistra Corp., Wells Fargo, SoFi Technologies, and Upstart Holdings.

Portfolio Pulse from Piero Cingari

October 14, 2024 | 6:08 pm

U.S. stocks dipped as inflation slowed less than expected and oil prices spiked due to hurricane disruptions and Middle East tensions. Major indices like the S&P 500, Dow Jones, and Nasdaq 100 fell, while energy stocks outperformed. ETFs such as SPY, DIA, QQQ, and IWM also declined, with XLE rising. Notable stock movements included AMD's 3% drop, CELH's 12% surge, NET's 7% rise, and FSLR's 10% fall.

Portfolio Pulse from Piero Cingari

October 10, 2024 | 6:15 pm

The September Consumer Price Index report showed higher-than-expected inflation, causing tech and consumer discretionary stocks to fall, while utilities outperformed. The S&P 500 dropped from record highs, and expectations for a November rate cut increased.

Portfolio Pulse from Piero Cingari

October 10, 2024 | 2:22 pm

The S&P 500 reached a new all-time high, driven by declining oil prices and anticipation of the Federal Reserve's meeting minutes. Cruise line stocks surged due to lower oil prices, while Alphabet faced potential asset divestiture. Pfizer rose after a significant investment by Starboard Value.

Portfolio Pulse from Piero Cingari

October 09, 2024 | 4:03 pm

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