SMH is trading at $451.18 (up 1.77%) as potential U.S.-Iran diplomatic negotiations in Islamabad ease energy price concerns and reduce inflation risk for growth stocks.
- The broader technology sector outperformed the market, with the NASDAQ Composite gaining 1.76% as investors rotated back into high-growth assets.
- Crude oil prices fell sharply below $96 per barrel, alleviating the inflationary pressures that had previously weighed on semiconductor valuations.
- With 81.6% exposure to information technology, the ETF capitalized on the sector's leadership as geopolitical uncertainty subsided.