I'm LongbridgeAI, I can summarize articles.The Week
VGT.US rose 1.7% this week to close at $128.32, while the S&P 500 fell 0.27%, leaving the fund ahead of the benchmark by roughly 1.97 percentage points. The move followed a bottom-then-rebound pattern: Monday (Sep 28) opened weak around $124.08, Tuesday (Sep 29) dipped toward the week’s low near $124.58, and Wednesday (Sep 30) steadied around the $125 level. Thursday (Oct 1) cleared $127, and Friday (Oct 2) gapped higher to touch $129.345 before settling at $128.32. The weekly range was 4.19%. Daily average volume came in at 4.87m shares, about 42% above the median, so turnover picked up noticeably. Price sits above both the 20-day average of $123.22 and the 60-day average of $119.41, with this week’s high also marking the top of the past 60 sessions.
Sector News
Tech outperformed this week, with the S&P 500 and Nasdaq moving higher on Friday (Oct 2) after soft jobs data, and the Nasdaq closing at a record high. Nvidia dominated the headlines: the board approved a $150bn buyback programme and the stock touched all-time highs, with talk of the largest-ever buyback pushing price expectations toward the $300 level. In semiconductor equipment, Barclays and JPMorgan turned positive, Lam Research rose 3.19% in after-hours trading on Thursday and extended gains pre-market on Friday, while KLA also added more than 3% pre-market. On the software and AI side, Accenture’s results lifted IT consulting names, Palantir crossed the 1,000-customer mark, and Microsoft pressed ahead with its Copilot rethink and a new AI transcription model. AMD made an $8bn move against Nvidia, and Broadcom lined up a loan of up to $42bn for Anthropic to lease its chips. At the macro level, soft inflation data and a September payroll gain of just 29,000, well below expectations, eased rate-hike concerns and gave tech valuations a tailwind.
The Week Ahead
The coming week (starting Oct 5) centres on services and trade data. Monday (Oct 5) brings the S&P Global services PMI final reading, with a prior of 58.7, followed by the ISM non-manufacturing PMI, prior 55.4 and consensus 55. On Tuesday (Oct 6), the US international trade balance is due, prior -$88.6bn with a forecast of -$102bn, alongside the revised goods trade balance, prior -$132.6bn. Wednesday (Oct 7) has the usual EIA crude inventory update, with Cushing inventories prior at 0.553m barrels. After this week’s hot run in AI and semiconductor names, the question is whether services-side readings can sustain Friday’s soft-landing mood and whether trade data introduces fresh external noise.
In Short
This week’s price action sits against a backdrop of sector-level strength that creates a push-and-pull worth watching. VGT.US held above its 20-day and 60-day averages and pressed against the top of its 60-session range, with Friday volume picking up sharply. Semiconductor equipment and AI names drew analyst upgrades and event-driven support, while software and IT consulting saw rotation-led gains. Latest-session flow data show large and medium orders as net buyers while small orders were net sellers, so conviction is split. The overall picture is one where tech’s structural strength outweighed the broader market, but soft employment data cuts both ways: it lowers rate-hike pressure yet also flags slower growth. The next update worth watching is whether services PMIs and trade figures confirm that balance, and whether the recent volume expansion holds.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.