Marvell Technology's shares surged 10% following confirmation that it will be added to the S&P 500 index during the next quarterly reshuffle. The semiconductor stock has gained over 230% this year and more than 450% in five years, boosted recently by strong earnings and positive remarks from Nvidia's CEO. Inclusion in the S&P 500 typically leads to automatic buying by index funds and ETFs, which could further support the stock price. The changes will take effect on June 22, with Marvell and Flex Ltd replacing Pool Corporation and Campbell’s Co.
The FTSE 100 index fell slightly, dragged down by mining stocks reacting to China's slower GDP growth of 4.3% in Q2, its weakest in three years. Despite this, oil prices remained steady amid US-Iran tensions. PayPal shares jumped over 14% following r...
The Goldman Sachs Future Tech Leaders Equity ETF (GTEK) has delivered a 48.9% return year-to-date, nearly doubling the 25% return of the Vanguard Information Technology ETF (VGT). Unlike VGT, which heavily invests in mega-cap tech giants like Nvidia,...
