FTXL is trading 2.2% higher today as investors return to the technology and semiconductor sectors following a sharp selloff earlier this week tied to AI profitability concerns.
- The rebound is driven by bottom-fishing in oversold AI-exposed chip stocks as traders look for value ahead of tomorrow's key PCE inflation report.
- Earlier market volatility was sparked by a technology-led downturn fueled by fears of slowing enterprise IT spending.
- With index futures modestly higher and no major economic data releases due today, sector-specific ETFs are seeing a relief bounce alongside NASDAQ futures.