Technology Select Sector News Today

The S&P 500 (SP500) on Friday advanced 1.58% for the week to end at 5,431.60 points, posting gains in four out of five sessions. Read more here.

The Nasdaq 100 index posted its fourth consecutive session in the green on Thursday, closing up 0.6% at 19,576 points and reaching new all-time highs as tech stocks drive broader market gains. The S&P 500 also recorded its fourth straight positive day, rising 0.2% to a record closing level of 5,433 points, rebounding from a morning dip caused by disappointing unemployment claims data. In the afternoon, traders regained confidence in risky assets after U.S. Treasury Secretary Janet Yellen ex...

The XLK tech ETF has seen big underperformance as diversification rules have limited Nvidia's position to about 5%.

Apple's share-price surge on Tuesday has propelled the rise of many exchange-traded funds (ETFs), especially tech-focused ones, that hold the influential stock.

Sollinda Capital Management LLC acquired a new stake in Direxion Daily Technology Bear 3X Shares (NYSEARCA:TECS – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,000 shares of the company’s stock, valued at approximately $188,000. Separately, Quantbot Technologies LP […]

Apple shares dropped 1.9% after the WWDC 2024. The event introduced "Apple Intelligence," a generative AI update in iOS 18, enhancing Siri and privacy features. Apple also partnered with OpenAI to bring ChatGPT to its devices and expanded Vision Pro availability to eight more countries.

The S&P 500 ended higher for the week, powered by tech stocks and AI powerhouse Nvidia. Read more here.

Touchcast Inc., a startup specializing in caching generative artificial intelligence queries, is set to raise $100 million from venture backers, including Microsoft Corp (NASDAQ:MSFT), an investor in OpenAI. The New York-based company stores and delivers responses for frequently used AI prompts, aiming to reduce computational and energy requirements for models like OpenAI's GPT-4. The initiative seeks to lower costs and enhance deployment efficiency for developers and businesses, according ...

Touchcast Inc., a startup focused on caching generative AI queries, is set to raise $100 million from venture backers, including Microsoft Corp. The New York-based company aims to reduce computational and energy requirements for models like OpenAI's GPT-4. CEO Edo Segal expects the new funding to push Touchcast's valuation to at least $350 million.

Wall Street typically has a more muted performance during the summer months.