Software ETF Surges 14% While Datadog Jumps Over 15%
The iShares Expanded Tech-Software Sector ETF surged 14% over five trading days, leading all major leadership ETFs and surpassing the 7.5% gain of the semiconductor ETF. Datadog rallied over 15% alongside peers Oracle, Snowflake and ServiceNow, marking the strongest weekly advance for software stocks in 25 years.
1. Software Sector Surges
Over five trading days the iShares Expanded Tech-Software Sector ETF surged 14%, outpacing the semiconductor ETF’s 7.5% gain and marking the strongest weekly performance for software stocks in 25 years.
2. Datadog and Peers Rally
Datadog climbed over 15% during the same period, joining Oracle’s 25% jump and similar gains from Snowflake, ServiceNow and Shopify as investors rotated into cloud and higher-beta growth names.
3. Rebound Falls Short of Peaks
Despite the broad rally, many software leaders remain significantly below their 52-week highs, with Microsoft still 24% off its peak and several other names down single digits from their all-time highs.