Optimism around the tech sector was lifted after the latest report showed signs of inflation cooling down, which raised expectations of slowing the Fed’s aggressive interest rate hikes in the upcoming meeting. The Technology Select Sector SPDR Fund (XLK) is up 13% over the past month and 6.3% over the past five days.
The internet has become one of the most vital tools for communication, information, and entertainment in today’s globalized world. Online usage penetration has gradually increased over the recent past. According to Statista, as of 2022, 91.8% of the total U.S. population accessed the internet. This figure is projected to grow to 95% by 2027.
