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VGT has declined by 0.2%, coinciding with a broader market trend as the S&P 500 Index has dropped by 0.15%. The recent U.S. Consumer Price Index (CPI) data revealed a 0.2% increase from August, slightly above expectations, while core CPI rose by 0.3%, exceeding forecasts.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Thursday, October 10
VGT [-0.2%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has declined by 0.2%, coinciding with a broader market trend as the S&P 500 Index has dropped by 0.15%. The recent U.S. Consumer Price Index (CPI) data revealed a 0.2% increase from August, slightly above expectations, while core CPI rose by 0.3%, exceeding forecasts. This inflation report suggests ongoing price pressures that may affect Federal Reserve interest rate decisions, potentially impacting technology sector valuations. Additionally, significant movements among VGT's holdings include declines in Apple, Microsoft, Broadcom, Qualcomm, and Oracle. Qualcomm recently appointed Marie Myers to its Board of Directors, who will serve on the Audit Committee until the next annual stockholders meeting. Rising jobless claims, now at their highest since August at 258,000 initial claims for the week ending October 5th, further highlight economic uncertainties affecting market dynamics.