💻 CDNS Soars on Strong Earnings, GLW and CVLT Rise on Positive Results, while AMKR and CHKP Slide on Weak Guidance | Tech Sector Insights
The Vanguard Information Technology ETF (VGT) is currently experiencing a daily return of +.06%, influenced by rising U.S. Treasury yields, which have reached a three-month high.
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Tuesday, October 29
VGT [+0.6%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) is currently experiencing a daily return of +0.06%, influenced by rising U.S. Treasury yields, which have reached a three-month high. These elevated yields reflect concerns about stronger economic growth and potential political shifts affecting fiscal policy, contributing to market volatility that may impact technology sector stocks within the ETF's holdings. Notably, geopolitical tensions have eased following Israel's decision not to target Iranian oil facilities, affecting energy prices and broader market sentiment towards risk assets like those tracked by VGT. Among the ETF's holdings, Cadence Design Systems Inc reported strong third-quarter results with significant year-over-year revenue growth and positive fiscal guidance, while Advanced Micro Devices Inc is under focus ahead of its upcoming quarterly earnings report, particularly due to its position in the AI sector.