Cooler-Than-Expected PCE, Hotter Software: IGV Outpaces Chip ETF SOXX
Softer-than-expected U.S. inflation data triggered a notable rotation within technology stocks on Wednesday, with software and mega-cap technology ETFs outperforming semiconductor funds as investors scaled back expectations for another Federal Reserve rate hike. The iShares Expanded Tech-Software Sector ETF (BATS: IGV