XLK is trading 3.94% up today on a broad market rally triggered by a US-Iran ceasefire and the reopening of the Strait of Hormuz.
- Oil prices plunged 15% on the news, fueling a sharp rise in global equity futures including a 3.18% jump in the Nasdaq-100 and a 2.47% gain for the S&P 500.
- The surge follows a significant jump in Asian markets as investors pivot back to risk assets following a recovery from recent Middle East tensions.
- While the technology sector is leading the pre-market gains, there are currently no sector-specific catalysts such as major earnings reports.