🟢 SMH is trading 1.7% up today as tech sentiment rebounds ahead of key macro data

SMH is trading 1.7% up in pre-market as broader Nasdaq futures gain and risk sentiment improves following a sharp multi-day selloff.

• Traders are reassessing the recent AI-infrastructure and geopolitics-driven selloff while awaiting upcoming GDP and income/spending data that could influence high-growth tech valuations.
• The semiconductor sector is showing signs of stabilization after facing heavy pressure from SK Hynix’s collapse and Meta’s AI capital expenditure shock.