SPRX is trading at $49.75 (+3.23%) as the technology sector stages a recovery following a July 13 selloff driven by AI valuation concerns and semiconductor profit-taking.
- Pre-market sentiment is supported by firmer Nasdaq futures, though gains are tempered by geopolitical tensions in the Middle East and caution ahead of the 8:30 AM CPI report.
- Investors are closely watching the inflation data for signals that could shift interest rate expectations and broader market risk appetite.
- Despite the rebound, the sector faces ongoing pressure from weak demand and AI-related pricing challenges impacting global IT services.