Taiwan Semiconductor Manufacturing Company hits a new all-time high, fueled by tech optimism. The S&P 500 futures are poised for a rebound. Meanwhile, the XOP ETF continues its impressive winning streak.
Taiwan Semiconductor Manufacturing Company reached a record high on Monday's trading session, and may have further room for growth as tech optimism from the previous night carries over. The S&P 500 was expected to rebound after leading losses in Asia on Monday, with the futures contract in Chicago at 39,870 and its counterpart in Osaka trading last at 39,670 against the index's previous close of 39,307.05.
While funds tracking major indices registered similar returns, a few actively managed ETFs marketed in Europe outperformed, including JPMorgan's US Research Enhanced Index Equity ETF and Invesco's Quantitative Strategies ESG Global Equity Multi-Factor ETF. CNBC Pro analyzed 321 European ETFs invested in equities, fixed income, or commodities, excluding leveraged or inverse returns. The XOP ETF traded higher on Monday, rising as much as 2% intraday, potentially marking its 10th consecutive gain since April 2020. The 55-stock XOP has surged nearly 10% over the past 10 sessions, its best 10-day period since mid-October 2023. It was recently up about 0.1%. The longest rally ever for XOP was an 11-day advance that ended in November 2010. The exchange traded fund now holds approximately $2 billion in assets, according to FactSet data. Its five largest positions are Although XOP remains below its April 2024 52-week high, the ETF is moving above its 50-day moving average for the first time since early December.
TECHNOLOGY MARKET ETF TAIWAN SEMICONDUCTOR INVESTING
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