Live Vanguard IT ETF (VGT): Tech Stocks Rise on Trade Deal Tailwinds
Live Updates Live Coverage Updates appear automatically as they are published. Quantum Leaps 10:50 am by Gerelyn Terzo Quantum computing stock D-Wave Quantum (NYSE: QBTS) is rallying by 22.1% after reporting better than expected Q1 earnings results. D-Wave Quantum generated $15 million in revenue, beating Wall Street estimates and setting a company record. D-Wave also […] The post Live Vanguard IT ETF (VGT): Tech Stocks Rise on Trade Deal Tailwinds appeared first on 24/7 Wall St..
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Quantum Leaps
Quantum computing stock D-Wave Quantum (NYSE: QBTS) is rallying by 22.1% after reporting better than expected Q1 earnings results. D-Wave Quantum generated $15 million in revenue, beating Wall Street estimates and setting a company record. D-Wave also narrowed its quarterly loss year-over-year. Fellow quantum stock IonQ (NYSE: IONQ) is up about 1% today after reporting “important commercialization and expansion milestones” in Q1, per the CEO.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are breathing a sigh of relief on positive trade developments. President Trump revealed a “comprehensive” trade agreement between the U.S. and the U.K., giving the major stock market averages a catalyst for gains as buying activity picks up. The White House has reportedly agreed to slash tariffs on vehicles made in the U.K. to 10% and beef tariffs to close to zero. Further progress on trade deals is also considered to be imminent, according to the Trump Administration.
The Vanguard IT ETF is gaining 0.81% today. Each of the Magnificent 7 stocks, which are major holdings in the VGT ETF, are rising in today’s session, including Tesla (Nasdaq: TSLA), which is tacking on 3% while Microsoft (Nasdaq: MSFT) is gaining 1.6%. Google parent company Alphabet (Nasdaq: GOOGL) is up 1% after yesterday’s AI-fueled sell-off in the stock. Alphabet stock was punished yesterday after an Apple (Nasdaq: AAPL) executive forecast AI will replace traditional search engines.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 190.92 (+0.46%)
Nasdaq Composite: Up 110.97 (+0.64%)
S&P 500: Up 26.21 (+0.47%)
Market Movers
Advanced Micro Devices (Nasdaq: AMD) is up 4.5% on positive regulatory tailwinds for the chip sector. On the flip side, ARM Holding stock is down 6.2% today after providing guidance that fell short.
Shopify (NYSE: SHOP) was a winner yesterday but is shaving off nearly 5% of its value today after reporting a wider than expected Q1 net loss.
AppLovin (Nasdaq: APP) stock is climbing 17% higher today after divesting its mobile games studio portfolio in an $800 million transaction. The AppLovin CEO stated that the company was “never a game developer at heart.”
The post Live Vanguard IT ETF (VGT): Tech Stocks Rise on Trade Deal Tailwinds appeared first on 24/7 Wall St..
