The SPDR Technology Select Sector, a $70 billion ETF, is set to increase its holdings of NVIDIA while reducing its stake in Apple. The fund has faced issues with the IRS due to concentration thresholds, which led to the need to adjust its holdings. Despite potential benefits for investors, the best approach could be to stick with sector ETFs for convenience and equalized differences. In other market news, NVIDIA saw an increase in market capitalization, surpassing both Apple and Microsoft temporarily. The S&P 500 reached another record last week, with various companies making headlines for their financial performance and strategic moves.
Looking ahead, upcoming events include earnings reports from FedEx, Micron Technology, and Nike, as well as economic data releases on new residential sales and personal consumption expenditures. The IMF estimates a significant increase in global investment flows to the US post-pandemic, while the CBO projects record-high public debt relative to GDP in the coming years. Overall, the market landscape continues to evolve with changing trends and economic indicators to watch.
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https://www.barrons.com/amp/articles/nvidia-is-surging-why-thats-a-problem-for-a-tech-etf-a49003a6