SPMO is trading 1.7% higher as the information technology sector, representing over half of the fund's exposure, stabilizes following last week's sharp global tech and semiconductor sell-off.
- Investors are selectively re-entering quality tech and AI names after concerns over AI-infrastructure overinvestment and stretched valuations led to significant de-risking.
- Momentum-oriented funds are benefiting from a modest rise in U.S. equity futures during a light economic data day with no major reports due.