XLG is trading at $63.50, up +1.99%, as investors position ahead of Microsoft, Alphabet, and Amazon earnings, with AI spending and returns in focus. - Reports described rotation away from the AI trade, despite XLG’s pre-market gain. - Futures were mixed; Nasdaq 100 futures later edged higher, not establishing a clear technology-sector-wide rally. - No major U.S. economic release was scheduled for October 26; investors were looking ahead to this week’s Fed decision and economic data.