Live Vanguard IT ETF (VGT): Big Tech Capex Plans Embolden Markets
Investing
-
The markets are on pace to finish the week on a positive note after all is said and done.
-
Tech stocks have been a positive catalyst, helped by economic data that has proven to be a tailwind.
-
Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here.(Sponsor)
Live Updates
Live Coverage Has Ended
3:51 pm
Stocks have widened their lead headed into the weekend, led by a 2.4% gain in the financial sector while technology as a group is up about 1%. In the S&P 500, DexCom (Nasdaq: DXCM) is a top performer, gaining 16% on the day, while Apple (Nasdaq: AAPL) has declined by 4.3%.
Here’s a look at where things are headed to end the final trading day of the week:
Dow Jones Industrial Average: Up 606.54 (+1.5%)
Nasdaq Composite: Up 279.91 (+1.6%)
S&P 500: Up 90.88 (+1.6%)
For the week, the S&P 500 is up approximately 2.8%.
12:32 pm
Netflix (Nasdaq: NFLX) stock is putting on a show, advancing beyond the $1,155 per share level and claiming its latest all-time high. The content streaming stock has strung together nearly a dozen consecutive winning trading sessions for the best showing in its history. Netflix’s market cap now hovers at $490.4 billion, up approximately 30% since mid-January. Technology is driving today’s market gains. Morgan Stanley is bullish on Taiwan Semi stock after Microsoft and Meta revealed their bullish AI capex plans.
11:29 am
The labor market continues to hold up in this economy after more jobs were added in April than expected. The results are a breath of fresh air to stocks as the economy attempts to stave off a recession. The U.S. economy added 177,000 new jobs last month, beating estimates of 133,000 but trailing March’s pace. April’s results were the first to reflect the impact from tariffs, a positive sign that conditions might not be deteriorating as quickly as feared.
Big Tech capex remains intact, buoying sentiment and leading the market gains, including a 1.3% advance in the Vanguard IT Index, led by stocks like Microsoft (Nasdaq: MSFT), Nvidia (Nasdaq: NVDA) and Palantir Technologies (Nasdaq: PLTR) today. All three of the major stock market averages are also posting gains, including a 400-point advance in the Dow Jones Industrial Average and 1% gains each for the Nasdaq Composite and S&P 500 index. In a bullish sign, Meta Platforms increased its 2025 capex plans to a range of $64 billion-$72 billion while lowering its expense outlook, a formula for 4% gains on the day.
After reporting their quarterly earnings results after the closing bell yesterday, Apple (Nasdaq: AAPL) and Amazon (Nasdaq: AMZN) stocks are taking it on the chin as signs of the tariff impact begin to emerge. While both companies surpassed estimates, Apple has heavy China exposure and Amazon believes it is equipped to navigate the tariffs. Apple has since prepared to shift more of its production to India. Also, Amazon Founder Jeff Bezos has filed to offload billions of dollars worth of AMZN shares.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 420.22 (+1.03%)
Nasdaq Composite: Up 261.73 (+1.47%)
S&P 500: Up 71.45 (+1.28%)
Market Movers
Apple warned that tariffs will cut into its current quarter bottom line to the tune of $900 million, leading Jefferies analysts to cut their rating on the stock to “underperform” while Rosenblatt Securities lowered AAPl shares to “neutral” from “buy.”
Block (NYSE: XYZ) stock, previously known as Square, is among the worst performers in today’s session, sinking over 20% on a Q1 miss and stagnant growth.
DexCom (Nasdaq: DXCM) is rising by 13.5% today after reporting its Q1 results.
Palantir Technologies (Nasdaq: PLTR), one of the top 10 holdings in the VGT index, is tacking on 5.8% as the AI trade gets revived.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.