The MarketReader Minute

💻 Tech ETFs Climb as U.S. Markets Hit Record Highs on New Asia Trade Deals; IBM Drops Despite Earnings Beat | Tech Sector Insights

VGT rose 0.43% as the Nasdaq and S\&P 500 hit record highs after President Trump’s trade pacts with Japan and the Philippines. NVIDIA gained on Alphabet’s AI spending surge, while ServiceNow rallied on strong Q2 earnings and bullish analyst upgrades.

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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.

Thursday, July 24

VGT [+0.4%]
Vanguard Information Technology ETF (VGT)
The U.S. stock market is currently experiencing gains, with the Nasdaq and S&P 500 reaching record highs following President Trump's announcement of significant trade deals with Japan and the Philippines. This development has positively influenced sentiment in technology sectors relevant to Vanguard Information Technology ETF (VGT). VGT has registered a daily return of approximately 0.43%, reflecting positive momentum within tech-related investments amid favorable macroeconomic conditions. Among its holdings, NVIDIA Corp. saw a notable increase in stock price, bolstered by Alphabet Inc.'s heightened capital expenditure forecast and the integration of AEye's lidar technology into its autonomous vehicle platform. Additionally, ServiceNow reported strong second-quarter results, exceeding revenue and earnings expectations, leading analysts to raise their price targets for the company, further highlighting its growth potential in the AI sector.

⚡️Energy Stocks Slide as Oil Inventories Spike and Geopolitical Risks Rise | Energy Sector Insights

(XLE) dropped 2.0% on Wednesday, pressured by a surprise 7.7 million barrel rise in U.S. crude inventories and renewed geopolitical concerns. Energy heavyweights Chevron (CVX), ExxonMobil (XOM), and Schlumberger (SLB) led the decline.

💊 IBB Falls as Fed Holds Rates, Sector Reacts to Leadership Shakeup and Earnings Miss | Biotech Sector Insights

(IBB) declined 0.6% as markets absorbed the Fed’s steady rate stance and Q2 GDP growth of 3%. The removal of Vinay Prasad from the FDA was seen as a sector-positive move, though broader market weakness—evident in the Russell 2000’s drop—also weighed on IBB.

🏦 XLF Dips as Fed Holds Rates and Financial Stocks Slide; HSBC Falls After Profit Drops and Revenue Misses Estimates | Financials Sector Insight

Financials edged lower with XLF down 0.5%, tracking the Dow’s 0.53% decline. Despite strong Q2 GDP growth (3%) and July job gains, the Fed kept rates steady at 4.25%–4.50%. Visa, Mastercard, and Blackstone all fell, even as Visa announced new Google Pay integrations.

🛒 XLY Falls 1% as Fed Holds Rates & New Tariffs Hit Sentiment | Retail Sector Insights

(XLY) declined 1.0% after the Fed kept rates steady at 4.25%-4.50% amid 3% Q2 GDP growth and rising inflation. President Trump's new tariffs on India added pressure, dragging down Tesla and Nike. Despite strong earnings, Garmin also fell, echoing a broader S\&P 500 dip of 0.35%.

Read more

⚡️Energy Stocks Slide as Oil Inventories Spike and Geopolitical Risks Rise | Energy Sector Insights

💊 IBB Falls as Fed Holds Rates, Sector Reacts to Leadership Shakeup and Earnings Miss | Biotech Sector Insights

🏦 XLF Dips as Fed Holds Rates and Financial Stocks Slide; HSBC Falls After Profit Drops and Revenue Misses Estimates | Financials Sector Insight

🛒 XLY Falls 1% as Fed Holds Rates & New Tariffs Hit Sentiment | Retail Sector Insights