SPY is trading 0.8% up today as a broad risk-on rally pushes major U.S. indices to record levels following strong retail sales data and optimism surrounding the Trump–Xi trade summit.
- Tech and communication services lead gains as investors price in robust AI infrastructure demand and strong Cisco earnings.
- Market sentiment is bolstered by relief over easing U.S.-China chip tensions, outweighing concerns about inflation and higher for longer rates.