XLK Holding Up Despite Cisco Warning
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Technology Select Sector SPDR (NYSE: XLK) is holding up fairly well in early trading on Thursday despite Cisco (NASDAQ: CSCO) shares selling off nearly 9 percent. The selloff in Cisco came after they reported earnings and made somewhat pessimistic comments in a conference call regarding sales forecasts in Europe.
The ETF is taking its ques from Apple (Nasdaq: AAPL), which is showing a rare up day since the post-earning sell-off.
Apple makes up 18.5% of the ETF, while Cisco makes up 3.7%.
The XLF last traded at $28.73, down just 0.55%.
The ETF is taking its ques from Apple (Nasdaq: AAPL), which is showing a rare up day since the post-earning sell-off.
Apple makes up 18.5% of the ETF, while Cisco makes up 3.7%.
The XLF last traded at $28.73, down just 0.55%.
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