ASX Midday Sector Update: Information Technology Stocks Soar, Utilities Down

MT Newswires Live11-20

Information technology stocks soared over 4% at midday Thursday. The Nasdaq composite index closed 0.6% higher on Wall Street, after Nvidia's earnings beat expectations.

Block (ASX:XYZ), whose shares jumped over 12%, said its board on Wednesday approved a $5 billion increase to the company's share repurchase program of its Class A common stock.

On the other hand, the utilities sector shed nearly 2%.

AGL Energy (ASX:AGL) said it "strongly" supports the development of the National Bioenergy Feedstock Strategy to reduce emissions and waste, and the strategy could be expanded to cover a wider range of feedstocks, in its feedback provided to the Department of Agriculture, Fisheries and Forestry.

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