Cisco Earnings Helps Tech ETF

Technology exchange traded funds (ETFs) and stocks have been solid performers this year. The information technology sector of the S&P 500 stock index was up 8.47% year-to-date as of July. During the first half of this year, the Technology Select Sector SPDR (XLK) had the second best return at 27.4%, reports David Hoffman for InvestmentNews. Currently, XLK is up 12.5% year-to-date. This ETF holds a number of tech and telecom stocks in the S&P 500, such as Cisco Systems (CSCO), Apple (AAPL), Microsoft (MSFT) and AT&T (T). Wall Street was pleased with Cisco’s earnings report today, which helped push up XLK 1.6%. Cisco makes up 6.3% of XLK.