The markets and exchange traded funds (ETFs) wobbled early this week as investors refrained from investing in riskier technology stocks on fears of possibly weaker global economic growth. Maybe the new shiny smartphone may distract investors from all the bleak news?
On Tuesday, all major indexes were weighed down by loses, most notably in the technology sector, reports Peter A. McKay for The Wall Street Journal. Sectors hovered around the break-even point on concerns over the long-term demand prospects. A deep cut in the Dow and lingering concern over Europe’s debt crisis have investors worrying about a possible stall in the U.S. growth. [5 ETFs for the Apple/Microsoft Battle.]
Is this a blip on the tech radar or a sign of trouble ahead? It may only be a blip, but the true answer may not become apparent for awhile, since IT spending in companies is among the last of the expenditures to be slashed. [First Trust Makes a Name for Itself.]
The new Apple (NASDAQ: AAPL) iPhone 4 will be on sale June 24 and it’s a beaut, with a homegrown processor like the one in the iPad, a longer battery life, a new 5 megapixel camera, a camera on the front of the phone and many more new features, writes Marguerite Reardon for CNN. [Accessing Smartphone Popularity With ETFs.]
For more information on the technology sector, visit our technology category.
- Technology Select Sector SPDR (NYSEArca: XLK)
- iShares Dow Jones U.S. Technology (NYSEArca: IYW)
- Vanguard Information Technology (NYSEArca: VGT)
- iShares S&P North America Technology (NYSEArca: IGM)
- PowerShares QQQ (NYSEArca: QQQQ)
- First Trust NASDAQ-100 Technology (NASDAQ: QTEC)
- SPDR Morgan Stanley Technology (NYSEArca: MTK)
- PowerShares Dynamic Telecom & Wireless Portfolio (NYSEArca: PTE)
- Vanguard Telecom Services (NYSEArca: VOX)
- iShares Dow Jones U.S. Telecommunications (NYSEArca: IYZ)
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.