The SPDR S&P 500 ETF Trust moved higher as sentiment improved alongside falling crude oil prices. Oil prices declined after optimistic reports about discussions between Washington and Tehran that could lead to the reopening of the strategically important Strait of Hormuz.
The latest U.S. durable goods report showed no overall change. However, non-defense capital goods orders excluding aircraft—a key indicator of business investment—rose 1.6%, helping ease concerns about business spending.
That positive signal offset some concern about rising Treasury yields as markets absorbed a significant new supply of government debt.