On August 28, Technology Select Sector SPDR Fund rose 3.02% in regular trading, trading at $188.425/share, with turnover of $823 million.

On the news front, Nvidia posted fiscal Q2 revenue that more than doubled year-over-year, significantly beating market expectations. Management issued fiscal year 2028 revenue guidance of approximately 70% year-over-year growth, far exceeding Wall Street's prior consensus of roughly 45%. Multiple investment banks raised their target prices, with JPMorgan lifting its target to $320, calling the guidance potentially conservative given accelerating agentic AI adoption. Nvidia shares surged over 8% intraday, lifting the entire semiconductor complex.

Simultaneously, enterprise software names including Salesforce, Okta, and CrowdStrike delivered double-digit gains on strong earnings and forward guidance, further boosting the broader tech sector. Technology was the only gaining sector in the S&P 500, offsetting weakness in utilities, energy, and communication services.

The fund employs a replication strategy seeking to track the S&P Technology Select Sector Index, generally investing at least 95% of total assets in index constituent securities spanning networking, IT services, software, semiconductor equipment, and communications technology.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)