SPY is trading 0.4% higher at $744.93 in pre-market action, tracking broader US futures gains amid optimism surrounding President Trump's summit with Xi Jinping in Beijing.
- High-level talks regarding trade, tariffs, and Taiwan are fueling hopes for eased semiconductor restrictions and energy-based solutions to Middle East tensions.
- Pre-market momentum is further supported by an 18% surge in Cisco shares, helping global sentiment override concerns from the recent 3.8% CPI data.
- The move follows a 0.56% gain on May 13, where the fund closed at $742.31 despite hotter-than-expected inflation figures.