🟢 iShares Semiconductor ETF is trading 4.6% up today as semiconductors rebound from oversold levels

iShares Semiconductor ETF is trading 4.6% up today as the sector stages a relief rally following a sharp macro- and earnings-driven selloff.

• The previous decline was fueled by stronger-than-expected U.S. jobs data and Broadcom’s cautious AI outlook, which pressured growth stocks on June 5.
• With no new data releases on June 8, the move reflects investors buying oversold AI and chip names despite elevated interest rate expectations.
• The rally indicates a broader recovery in the technology sector as market participants recalibrate after recent volatility.