SPMO is trading 1.9% down today, pressured primarily by information technology weakness as elevated Treasury yields make high-growth stocks less attractive.

  • The August PPI report showed headline inflation at 5.4% year over year versus 5.3% expected, while the 10-year yield remained above 4.86%.
  • Oil above $100 following U.S.-Iran military escalation is adding inflation and risk-aversion concerns.
  • Investors are cautious ahead of Oracle and Adobe earnings after the September 10 close.