SPY is trading 1.3% higher as investors rotate back into large-cap U.S. equities following Wednesday’s geopolitics-driven selloff.
- Strong Microsoft earnings and a sharp rally in mega-cap tech are lifting the index, signaling a broad risk-on move.
- Fresh PCE inflation data showing moderation is easing concerns regarding the Federal Reserve's interest rate path.
- Markets are prioritizing robust corporate results and Fed patience over ongoing Middle East tensions and elevated oil prices.