🔴 Space ETF (UFO) is trading 3% down in pre-market on weak tech earnings and AI-return concerns

UFO is trading at $40.46 (-3.02%) as weak tech earnings and concerns about returns on heavy AI spending drive broad risk-off pressure.

• Nasdaq futures fell sharply overnight.
• SpaceX, AST SpaceMobile and Rocket Lab traded lower overnight; Amazon’s satellite-service plans sharpened competitive concerns.
• No major U.S. economic indicators are scheduled for October 30, and pre-market volume data is unavailable.