💻 VGT Slips as Shutdown Delays Data; Nvidia, AMD, and Chipmakers Weigh on Tech Sector | Tech Sector Insights
(VGT) declined 0.3% since Thursday as the U.S. government shutdown delays key reports like Nonfarm Payrolls. Nvidia fell on stalled AI chip deals, while AMD slid despite strong Steam survey metrics. AMAT and KLA dropped on new export curbs, and Palantir declined amid scrutiny over security flaws.
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Friday, October 3
VGT [-0.3%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has declined by 0.3% since Thursday, amid ongoing uncertainty stemming from the U.S. government shutdown, which is delaying key economic data releases, including the Nonfarm Payrolls report. This environment is affecting sentiment towards technology stocks within the ETF's portfolio. Notably, Nvidia (NVDA) has faced challenges with a stalled AI chip deal and CEO share sales, contributing to its negative performance. AMD's stock has also dropped despite positive metrics from the September Steam Hardware Survey, indicating a disconnect between market performance and investor sentiment. Applied Materials (AMAT) and KLA Corporation (KLAC) are experiencing declines due to new U.S. export restrictions impacting revenue projections and negative sentiment in the semiconductor equipment sector. Palantir Technologies (PLTR) has seen a share price decline due to scrutiny over security flaws in a U.S. Army project. In correlated assets, the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has moved down slightly, reflecting broader market sentiment.