iShares Semiconductor ETF is trading 1.5% up today as investors rotate into growth assets following a tentative U.S.–Iran peace agreement and the reopening of the Strait of Hormuz.

  • Easing oil prices are reducing inflation and interest rate-hike fears, providing a significant tailwind for rate-sensitive technology and semiconductor shares.
  • The move aligns with a broad, AI-led tech risk-on rally, with Nasdaq futures climbing more than 2% in pre-market action.