VGT is trading 1.5% higher as investors rotate back into growth and AI-linked names, supported by easing inflation fears and a broader tech rebound.
- A >5% drop in oil prices and cooling Middle East tensions have reduced macro-economic pressure, allowing the tech-heavy Nasdaq to outperform broader indices.
- Stronger manufacturing data and ongoing enthusiasm for cloud and AI earnings from megacaps like Microsoft and Amazon are reinforcing sentiment across the information technology sector.