S&P 500 ETF (SPY) is trading 1% higher today as easing long-term Treasury yields support a rotation back into large-cap growth and technology sectors.
- Easing yields are benefiting duration-sensitive sectors, leading to the Nasdaq outperforming the broader market.
- Market sentiment is being bolstered by anticipation of Nvidia’s upcoming earnings, which is lifting the S&P 500’s tech-heavy components.
- With no major economic data releases, traders remain focused on bond-market volatility following the previous session's yield-driven pullback.