Nvidia, Micron, Apple and AMD delivered half of technology's 2.2% as T-Mobile cancelled Meta
The technology fund VGT rose 2.2% on Thursday, September 17, 2026, as Nvidia, Micron, Apple and AMD added 1.1 percentage points; T-Mobile’s 5.6% drop left the communication services fund XLC last.
Nine of eleven sector funds closed higher Thursday.
Technology gained 2.2% as nine of eleven sectors rose
- +2.2%
- +1.1%
- +0.8%
- +0.7%
- +0.6%
- +0.6%
- +0.3%
- +0.2%
- +0.1%
- −0.1%
- −0.6%
The S&P 500 fund SPY gained 1.1% after three lower closes, more than twice the 0.5% in the equal-weight S&P 500 fund RSP. The Nasdaq-100 fund QQQ rose 1.7%; the Russell 2000 fund IWM rose 0.5%.
Nvidia, Micron, Apple and AMD
The technology fund VGT rose 2.2%, larger than its 1.4% gain over the past month. Nvidia, 18% of the fund and up 2.5%, contributed 0.45 percentage points. Micron Technology rose 5.5%, Apple 1.4%, and Advanced Micro Devices 6.4%. Together the four are 41% of the fund and added 1.1 percentage points, half the gain.
Nvidia chief executive Jensen Huang said Thursday the company will sell twice as many chips next year as this year. AMD rose for a third session.
The consumer discretionary fund XLY gained 1.1%. Amazon, 24% of the fund and up 2.1%, and Tesla, 18% and up 2.3%, contributed 0.93 percentage points. Technology needed four names to produce half its gain; discretionary got most of its move from two. The fund is still down 4.3% over one month.
T-Mobile against Meta
The communication services fund XLC fell 0.6%, its third decline in a row. Meta Platforms and the two Alphabet share classes added 0.50 percentage points. T-Mobile, Comcast, Verizon and AT&T subtracted 0.63 percentage points.
T-Mobile is a 4.4% position. It fell 5.6% to $166.45, 0.5% above its 52-week low, and subtracted 0.25 percentage points. Meta, at 19.5%, added 0.26 percentage points. A sleeve one-fifth the size cancelled the largest holding. T-Mobile had already dropped 2.3% on Wednesday.
The financials fund XLF slipped 0.1%. Berkshire Hathaway, 12% of the fund, fell 2.0% and subtracted 0.25 percentage points, more than the fund lost. Goldman Sachs and BlackRock rose; Visa and Mastercard did not. The eleven sector funds are cap-weighted lists. Thursday ran through the lists, not the labels.
Phillips 66 at a 52-week high, oil still down
West Texas Intermediate was at $101.27 a barrel, down 1.1%, as of 4:34 p.m. Eastern. The energy fund XLE still gained 0.6%, and it was the only sector fund to trade above its average, at 1.23 times.
Energy was the only sector to trade above average volume
Phillips 66, Valero Energy and Marathon Petroleum contributed 0.46 percentage points. Phillips 66 closed at a 52-week high of $274.21 on Thursday, September 17. Exxon Mobil, 20% of the fund, was unchanged; Halliburton and SLB declined. That is a refiner session, not a crude session. It also does not repair Wednesday, when the fund fell 2.8% as the Fed raised its target a quarter point to 3.75% to 4.00%: Energy fund falls 2.8% as oil reverses; Fed delivers first hike since 2023. From Tuesday’s close the fund is still down 2.2%.
RSP captured the breadth. The cap-weighted sector funds captured the names. Those are different days.
Frequently asked
Why did technology rise so much?
Nvidia, Micron, Apple and AMD, together 41% of the fund, added 1.1 percentage points: half the sector's gain.
Why did communication services fall when Meta and Alphabet rose?
T-Mobile, Comcast, Verizon and AT&T subtracted more than Meta and the Alphabet shares added, with T-Mobile alone dropping 5.6%.
Was the energy gain about oil?
No: crude was lower, and the gain came from refiners Phillips 66, Valero and Marathon Petroleum, with Phillips 66 closing at a 52-week high.
Did the rally reach the whole market?
No: the cap-weighted S&P 500 fund gained more than twice what the equal-weight version did.