S&P 500 Nears Critical Juncture as Technical and Fundamental Forces Collide

The S&P 500 commenced Tuesday’s session with modest declines, trading at 6,815.64 points for a 0.25% drop from the previous close. This muted opening followed subdued pre-market activity, with bond markets remaining shut for the Veterans Day holiday. Market volatility continues to recede, with the VIX index declining to 17.6 points amid growing confidence that the US government shutdown will be resolved.

Monday’s technology rally showed signs of fatigue after substantial gains. The previous session saw significant advances from AI-focused giants, with Nvidia climbing 5.8%, Palantir surging 8.8%, and Tesla adding 3.7%. Nvidia’s substantial 7.77% weighting in the S&P 500 underscores its disproportionate influence—the benchmark index now demonstrates stronger correlation with this Read more...