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(VGT) has experienced a daily return of 1.39%, buoyed by positive market sentiment following robust earnings reports from major technology firms, including Salesforce and Marvell Technology, which exceeded financial expectations due to AI demand.
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Wednesday, December 4
VGT [+1.7%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a daily return of 1.39%, buoyed by positive market sentiment following robust earnings reports from major technology firms, including Salesforce and Marvell Technology, which exceeded financial expectations due to AI demand. Despite the ADP report indicating that the U.S. private sector added fewer jobs than anticipated in November, overall market reactions remain favorable, particularly with expectations for potential Federal Reserve rate cuts that may benefit technology stocks. Key contributors to VGT's performance include Microsoft, which declared a quarterly dividend while facing a significant dispute in the UK, Salesforce, which reported mixed Q3 earnings leading to raised analyst price targets, and Marvell Technology, which posted strong earnings and optimistic guidance for the upcoming quarter.