IGV is trading 1.5% up today as the technology sector rallies behind strong semiconductor earnings and reports of a major partnership between Intel and Apple.
- Intel surged 12.9% on rumors of a deal with Apple, while robust earnings from AMD and SMCI provided additional momentum for the chip sector.
- Geopolitical de-escalation between the U.S. and Iran has lowered oil prices and improved market risk sentiment, contributing to a 1.01% gain in the Nasdaq.
- Cooling labor data is fueling expectations for potential Fed rate cuts, benefiting IGV's heavy 95.7% concentration in information technology stocks.