Invesco S&P 500 Momentum ETF is trading 2.3% up today as information technology and other growth sectors recover from last week’s sharp rate-shock selloff.
- The ETF is outperforming the broader market early in the session, driven by its heavy exposure to momentum-focused technology stocks as the Nasdaq Composite moves higher.
- Broader indices are stabilizing following the May jobs report, which had previously pressured momentum stocks by pushing Treasury yields and Fed hike expectations higher.
- Headline technology names are seeing a significant bounce, providing a strong tailwind for the fund's momentum-heavy portfolio.