Twitter, Facebook earnings on deck boost communications ETFs to 2-week high
Communications-services exchange-traded funds rallied Thursday, as media giants led the market rebound. Companies like Facebook Inc. (FB) and Twitter Inc. (TWTR) were among the biggest gainers in the S&P 500 , up more than 7 and 5%, respectively, in the late morning. That helped the Communications Services Select Sector SPDR fund (XLC) atop all 11 ETFs tracking the sectors of the index, up 2.4%. The ETF, and competitors like the Fidelity MSCI Communications Services Index ETF (FCOM) and the Vanguard Communications Services ETF (VOX), are on track for their biggest daily gain since Oct. 12. Facebook, Twitter, and several other heavyweights are due to report earnings after the closing bell Thursday.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 11:41 ET (15:41 GMT)
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