🟢 ON Semiconductor Corporation is trading 5.15% up today on broad risk-on sentiment and easing inflation concerns

ON Semiconductor Corporation is trading at $123.36 (+5.15%) in pre-market as U.S. equities rally on a broad risk-on move and easing inflation concerns.

• Market sentiment is bolstered by news of a tentative U.S.-Iran peace agreement, which has significantly eased global oil and inflation fears.
• Broader indices are trending higher, with the S&P 500 up 1.24% and the Nasdaq Composite up 2.13%.
• No company-specific catalyst for ON Semiconductor Corporation was identified; the move appears driven by macro-economic factors.