🟢 State Street SPDR S&P 500 ETF Trust is trading 1.3% up today on US–Iran peace deal and oil price plunge

State Street SPDR S&P 500 ETF Trust is trading 1.3% up following a tentative US–Iran peace agreement that has reopened the Strait of Hormuz, significantly lowering oil prices and easing global inflation concerns.

• The removal of geopolitical risk premia in the energy sector is reducing interest rate-hike fears, providing a strong tailwind for risk assets and growth-heavy indices.
• Investors are rotating back into technology and other growth sectors as futures rally broadly ahead of the first FOMC meeting under the leadership of Chair Kevin Warsh.