SPY is trading 0.75% higher today as technology gains and positive labor market data drive broader market momentum.
- Technology stocks, which make up 33.8% of the ETF, are leading the rally amid strong corporate earnings and AI advancements.
- A robust April jobs report adding 115,000 positions has bolstered investor confidence, helping to offset regional geopolitical tensions.
- Risk appetite remains supported by US-Iran de-escalation talks, providing a buffer against recent oil market volatility.