SPWO is trading 3.5% higher at $32.80 in pre-market action as the market reacts to a combination of tariff-driven repricing and a shift in global risk appetite.
- Broad Trump import tariffs have prompted a significant repricing of foreign large-cap equities and currencies, providing a tailwind for this foreign growth-focused ETF.
- Overnight risk sentiment improved as oil prices retreated following a pause in U.S.-Iran hostilities, lifting global equities and U.S. futures.
- The convergence of the recent tariff shock and easing inflation fears is driving renewed support for non-U.S. growth stocks.