SPY is trading at $764.01 (+0.81%) after August CPI matched the 3.4% annual forecast and core inflation aligned with expectations, easing fears of an upside inflation surprise and reducing immediate pressure on the Federal Reserve.
- The broad advance is reflected in the Nasdaq Composite (+0.92%) and Dow Jones (+0.89%), rather than an isolated SPY-sector move.
- Risks include 10-year Treasury yields near 5%, Brent crude above $100, geopolitical inflation risks, technology’s 36.9% S&P 500 weighting, and Thursday’s hotter 0.4% PPI.