XLK is trading at $186.99 (+2.15%) as Micron’s blowout earnings report revitalizes the AI trade and lifts semiconductor sentiment across the sector.
- Strong premarket buying is being driven by positive spillover from the semiconductor industry, boosting demand for technology-heavy funds.
- The move marks a significant rebound following the global tech rout on June 23, supported by a broader risk-on tone in the markets.
- Nasdaq futures are trading sharply higher premarket, signaling continued momentum for the technology sector.