Tech ETFs Soaring To All-Time Highs
Zacks Investment Research | Mar 22, 2019 12:00AM ET
The technology sector is on fire once again after being badly beaten down in the last quarter. Hopes over a trade deal between the world’s two largest economies have been instilling confidence in the sector, though no deal has been finalized yet. Additionally, the Fed’s more dovish-than-expected view supported the rally.
The Fed Chair Powell said that no further interest rate hikes this year are being forecast due to signs of softness in the U.S. economy. Additionally, the central bank stated that it would stop shrinking its $4-trillion balance sheet by the end of September.
Further, the sector’s long-term story remains intact with the emergence of cutting-edge technology such as cloud computing, big data, Internet of Things, wearables, VR headsets, drones, virtual reality, artificial intelligence and machine. The deployment of 5G (fifth-generation) technology — the next wireless revolution — is creating further opportunities. The wave of mergers and acquisitions is also providing further impetus to the space (read: Zacks Investment Research
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