SPMO is trading 1.7% up at $109.69 as President Trump signaled a potential end to military operations against Iran, reducing recession fears that had pressured momentum stocks.
- Fed Chair Powell's remarks at Harvard reinforced that energy shocks are temporary, easing inflation concerns and stabilizing the broader market.
- The technology sector, which comprises 44.5% of SPMO, led the recovery as the Nasdaq surged 1.56% following a rotation back into growth equities.
- Improved investor sentiment saw the S&P 500 rise 1.25%, reversing losses from Monday's 3% decline as geopolitical tensions cooled.