SPY is trading 0.9% higher as crude oil retreats from last week’s six-month highs, easing some inflation and supply-risk concerns. - Reports of diplomatic efforts involving Iran have helped support the pullback in oil prices. - Investors are positioning ahead of Wednesday’s Federal Reserve decision and major earnings from Alphabet, Microsoft, and Amazon, with attention on whether AI spending is generating returns. - The move appears to be a cautious broad-market rebound, not a confirmed single-company catalyst.