💻 Tech Rises on Export Easing, Unity Soars on Ad Tech Momentum | Tech Sector Insights
(VGT) rose 0.3% as easing U.S. chip export restrictions to China lifted sentiment around top holdings like Nvidia and AMD. Flat PPI data supported hopes for stable rates, while Apple and Unity led VGT’s intraday gains. Unity also hit a new 52-week high with heavy volume and rising bullish sentiment.
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Wednesday, July 16
VGT [+0.3%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a slight increase of 0.3% today, coinciding with a broader market uptick, as reflected by a 0.30% rise in the S&P 500 Index. Positive sentiment in the technology sector is fueled by the easing of U.S. export restrictions on semiconductor sales to China, benefiting key holdings such as Nvidia and AMD. Additionally, the Producer Price Index (PPI) data showed no change from last month, with an annual growth rate slowing to 2.3%, which may influence Federal Reserve policy regarding interest rates. Among VGT's top contributors, Apple and Nvidia reported gains, while Unity Software Inc. received an analyst upgrade that bolstered its stock performance. Unity's projected growth in mobile game ad spending highlights its potential beyond gaming, despite Bank of America's Underperform rating.