XLK Holding Ground, AAPL Strong, FB Not an Issue
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Technology Select Sector SPDR (NYSE: XLK) is holding steady in early trading, despite a huge sell off in shares of Facebook (NASDAQ: FB).
Because Facebook is a new issue, it is not owned by XLK, but some traders feel that negative sentiment in FB could drag down the broader market for tech stocks. So far, this does not appear to be the case.
Shares of Apple (NASDAQ: AAPL), the largest holding in XLK, are up over 1 percent in early trading.
Because Facebook is a new issue, it is not owned by XLK, but some traders feel that negative sentiment in FB could drag down the broader market for tech stocks. So far, this does not appear to be the case.
Shares of Apple (NASDAQ: AAPL), the largest holding in XLK, are up over 1 percent in early trading.
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