SPMO is trading 1.8% up today as the information technology-heavy momentum basket catches a rebound following yesterday’s tech selloff and improved broader risk sentiment.
- The move tracks overnight relief as markets digest the recent semiconductor and AI-spending unwind, with mega-cap momentum names leading the recovery.
- Investors remain focused on upcoming 8:30 AM economic data, including GDP and PCE figures, which could impact interest rates and growth-stock valuations.
- While the broader market tone is firmer, the ETF remains sensitive to any surprises in yields that could pressure high-momentum tech positions.