Invesco S&P 500 Momentum ETF is trading 2.7% higher as the information technology sector, which accounts for over half of the fund's weight, rebounds from the previous session’s Fed-driven selloff.
- Investors are reassessing the impact of unchanged interest rates as no new macroeconomic shocks or data have emerged to further pressure the sector.
- The ETF is outperforming the broader market early in the session due to its heavy concentration of major tech and semiconductor names within its momentum basket.