XLK is trading 2.2% up today as robust corporate earnings and AI-related news fuel a surge in the broader technology sector.
- The Nasdaq Composite rose 1.26% following positive earnings from AMD and SMCI, building on yesterday's momentum.
- AI supply chain sentiment is bolstered by reports of tech giants offering funding to SK Hynix for HBM production lines.
- The rally in tech stocks is currently outweighing broader market concerns regarding geopolitical tensions in the Middle East.