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The U.S. stock market has demonstrated resilience, rebounding from early losses to close higher, aided by falling treasury yields. This comes despite some weakness in the technology sector following disappointing earnings from major firms like Alphabet and AMD.
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Thursday, February 6
VGT [+0.2%]
Vanguard Information Technology ETF (VGT)
The U.S. stock market has demonstrated resilience, rebounding from early losses to close higher, aided by falling treasury yields. This comes despite some weakness in the technology sector following disappointing earnings from major firms like Alphabet and AMD. Concurrently, the Bank of England's recent interest rate cut may positively influence global financial conditions for technology stocks, reflecting a more accommodative monetary policy amid economic uncertainties. In terms of specific holdings within the Vanguard Information Technology ETF (VGT), notable contributors included NVIDIA Corp, which is collaborating with Accenture and Repsol to enhance digital transformation through AI technologies. Additionally, Coherent Corp reported strong Q2 earnings, exceeding estimates and prompting analysts to raise price targets. VGT's current daily return stands at 0.24%.