SPY is trading 1.0% up today as markets rally following the de-escalation of Middle East tensions and a sharp decline in crude oil prices.
- Geopolitical risks eased significantly after President Trump canceled planned strikes against Iran in favor of diplomatic talks, reducing global inflation fears.
- Strong performance in the information technology sector, the largest weight in the ETF, continues to drive gains alongside positive megacap tech earnings.
- Macroeconomic stability remains supported by a strengthening yen following US–Japan currency intervention, maintaining firm sentiment into the August 4 pre-market.