Live Vanguard IT ETF (VGT): Tech Stocks Rise on Trade Deal Tailwinds

By Gerelyn Terzo Updated May 8, 1:23PM EDT · Published May 8, 10:49AM EDT

Key Points

Tech stocks are joining in on today’s market gains on positive trade developments between the U.S. and U.K.
Each of the Mag 7 stocks is moving higher, buoying the VGT ETF.

Live Updates

Victory Lap

May 8, 2025 at 1:24 PM EDT | Gerelyn Terzo

After clinching a trade deal with the U.K., the White House is taking a victory lap. President Trump is urging Americans to “buy stocks now” because “the country will be like a rocket ship that goes straight up.” The markets have widened their gains since this morning. Here’s where things stand:

Dow Jones Industrial Average: Up 577.09 (+1.4%)
Nasdaq Composite: Up 318.97 (+1.8%)
S&P 500: Up 78.27 (+1.4%)

Jet Fuel for the Markets

May 8, 2025 at 12:11 PM EDT | Gerelyn Terzo

The markets are holding onto their gains even with uncertainty around interest rates, inflation and the economy. President Trump was dissatisfied in Fed Chairman Jerome Powell’s leadership for failing to follow in the footsteps of other countries and lowering interest rates in the economic slowdown, saying that lower rates would fuel the stock market like jet fuel.

Even so, the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 are each up over 1% as further trade details between the U.S. and the U.K. surface. Additionally, the bitcoin price has recaptured the $100,000 level on news of a deal involving crypto exchange Coinbase (Nasdaq: COIN | COIN Price Prediction).

Quantum Leaps

May 8, 2025 at 10:50 AM EDT | Gerelyn Terzo

Quantum computing stock D-Wave Quantum (NYSE: QBTS) is rallying by 22.1% after reporting better than expected Q1 earnings results. D-Wave Quantum generated $15 million in revenue, beating Wall Street estimates and setting a company record. D-Wave also narrowed its quarterly loss year-over-year. Fellow quantum stock IonQ (NYSE: IONQ) is up about 1% today after reporting “important commercialization and expansion milestones” in Q1, per the CEO.

This article will be updated throughout the day, so check back often for more daily updates.

The markets are breathing a sigh of relief on positive trade developments. President Trump revealed a “comprehensive” trade agreement between the U.S. and the U.K., giving the major stock market averages a catalyst for gains as buying activity picks up. The White House has reportedly agreed to slash tariffs on vehicles made in the U.K. to 10% and beef tariffs to close to zero. Further progress on trade deals is also considered to be imminent, according to the Trump Administration.

The Vanguard IT ETF is gaining 0.81% today. Each of the Magnificent 7 stocks, which are major holdings in the VGT ETF, are rising in today’s session, including Tesla (Nasdaq: TSLA), which is tacking on 3% while Microsoft (Nasdaq: MSFT) is gaining 1.6%. Google parent company Alphabet (Nasdaq: GOOGL) is up 1% after yesterday’s AI-fueled sell-off in the stock. Alphabet stock was punished yesterday after an Apple (Nasdaq: AAPL) executive forecast AI will replace traditional search engines.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 190.92 (+0.46%)
Nasdaq Composite: Up 110.97 (+0.64%)
S&P 500: Up 26.21 (+0.47%)

Market Movers

Advanced Micro Devices (Nasdaq: AMD) is up 4.5% on positive regulatory tailwinds for the chip sector. On the flip side, ARM Holding stock is down 6.2% today after providing guidance that fell short.

Shopify (NYSE: SHOP) was a winner yesterday but is shaving off nearly 5% of its value today after reporting a wider than expected Q1 net loss.

AppLovin (Nasdaq: APP) stock is climbing 17% higher today after divesting its mobile games studio portfolio in an $800 million transaction. The AppLovin CEO stated that the company was “never a game developer at heart.”

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.