🟢 SPY is trading 0.8% up today on cooling PCE inflation and strong mega-cap tech earnings

SPY is trading 0.8% higher as cooling June PCE inflation and a strong earnings rebound in mega-cap technology improve risk appetite.

• Microsoft’s post-earnings surge and Amazon’s cloud-driven gains are supporting the index, while Apple’s decline is limiting the upside.
• The move is part of a broader equity rally, with the S&P 500 and Nasdaq both trading higher on July 31.
• Investors are leaning into softer inflation and better-than-expected big-tech results as the market sentiment improves.