SPMO is trading 2.0% higher in pre-market as the information technology sector—representing over half of the fund’s weight—rebounds from recent weakness.
- Tech sentiment is bolstered by strong AI-related demand signals, including record profit guidance from memory maker Kioxia and upbeat infrastructure orders from Cisco and Applied Materials.
- The move appears to be sector-specific, as broader U.S. futures are trading slightly lower, suggesting momentum-driven strength rather than a broad market rally.