SPY is trading 1% up today as cooling labor market data and geopolitical relief boost investor sentiment.
- Cooling JOLTS data showed 6.9M job openings, fueling expectations for a Federal Reserve rate cut.
- The tech sector is leading the rally with significant AI chip strength from AMD and SMCI, while the Nasdaq and Dow also gain over 1%.
- A U.S.-Iran peace talks framework has sent oil prices lower, easing inflation fears and supporting broad market equities.