XLK is trading 1.7% down today as the technology sector underperforms the broader market amid software sector volatility and caution ahead of major earnings.
- Oracle fell 4.2% in pre-market trading on OpenAI revenue concerns, overshadowing news that the Microsoft and OpenAI partnership restructuring may ease antitrust scrutiny.
- Broader sentiment is pressured by stalled U.S.-Iran talks and technical resistance, with investors turning cautious ahead of quarterly results from MSFT and META due later today.