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Tech shares ticked higher after a U.S. Supreme Court ruling against global tariffs eased cost pressures for import-heavy sectors, supporting risk appetite. Gains in Apple, Nvidia, Micron, RingCentral, and Analog Devices helped lift VGT, while the broader S&P 500 also advanced.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Friday, February 20
VGT [+0.3%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price increase of 0.3% since Thursday. This uptick coincides with the U.S. Supreme Court's ruling against former President Trump's global tariffs, which has alleviated cost pressures on imports and manufacturing for technology companies. Additionally, ongoing geopolitical tensions between the U.S. and Iran have influenced oil prices, but recent court developments have overshadowed these factors, contributing to a positive sentiment towards tech stocks today. Among VGT's holdings, notable contributors include Apple, NVIDIA, Micron Technology, RingCentral, and Analog Devices, all of which have shown positive returns. The S&P 500 Index has also increased by 0.34%, reflecting broader market sentiment that likely influences VGT's performance.