🟢 Tech ETF (SPTE) is trading 3.8% up in after-hours trading as softer July PPI reduced Fed tightening expectations

SPTE is trading 3.8% higher in after-hours trading as softer July PPI reduced expectations for near-term Federal Reserve tightening.

• July PPI was flat month over month, below the 0.2% forecast, supporting growth-stock valuations.
• Nasdaq rose 0.98%; the S&P 500 information technology index gained 1%, while semiconductor and AI-infrastructure stocks added momentum.
• Micron, Marvell, Intel, and SanDisk were notable gainers. Applied Materials reported record third-quarter revenue of $9.12 billion, reinforcing strong AI-demand expectations.