XLK is trading 1.6% up today as investors reassess technology sector strength following SAP's unveiling of its Autonomous Enterprise vision.
- SAP's Sapphire 2026 event showcased over 200 AI agents, fueling renewed appetite for enterprise software and AI infrastructure plays.
- The ETF is recovering from a 1.51% decline on May 12, supported by a 0.64% rise in NASDAQ-100 futures and continued institutional capital flow into chipmakers.
- Broader tech momentum persists despite persistent inflation concerns stemming from Tuesday's CPI miss of 3.8% against the 3.7% forecast.