Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF
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Then both rallied off their lows. The Nasdaq 100 was down to 27,452.95 at its intraday low, which would have put the index 10.5% below its June 2 record close. A 10% drawdown from a recent closing high puts an index in a technical correction.
U.S. stocks ended mixed on Monday, with the Dow ending in positive territory as oil prices fell and investors awaited earnings reports and guidance from a batch of big tech companies scheduled to report quarterly results this week.
Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XL
Jabil is expected to announce its fourth-quarter earnings soon, and Wall Street forecasts a double-digit rise in its bottom line.
Broadcom is prepared to post its third-quarter results soon, with analysts predicting a triple-digit earnings growth.
U.S. stocks ended mixed on Friday, with the Nasdaq ending in the red, triggered by a tech selloff on growing concerns over the massive spending on AI, as investors awaited quarterly results from the next batch of megacap tech companies.
Salesforce will release its second-quarter earnings soon, and analysts anticipate a single-digit bottom-line growth.
NVIDIA is expected to announce its second-quarter earnings in the coming months, and Wall Street forecasts a triple-digit increase in its bottom line.
Analog Devices will release its third-quarter earnings soon, and analysts anticipate a double-digit bottom-line growth.
Cisco Systems is set to post its fourth-quarter results soon, and analysts predict a double-digit growth in the company’s bottom-line figure.
Coherent is scheduled to post its fourth-quarter results in August, and analysts predict a double-digit surge in the company’s bottom-line figure.