S&P 500 Index Resumes Upside After Yesterday’s Retreat

Today US indices such as the S&P 500 turned higher again, resuming the upside momentum after Tuesday’s retreat on risk aversion. The risk sentiment improved somewhat in the US session, which sent US stocks higher, while the main European stock indices closed mostly lower.

Stock markets have shown strong upward momentum, with the S&P 500 consistently reaching new record highs in recent months. However, prices took a dip yesterday amid rising tensions in the Middle East and Federal Reserve Chair Jerome Powell’s less dovish remarks, which signaled resistance to the next 50 basis point rate cut by the Fed.

Despite this, buying activity resumed in the US session today as geopolitical tensions temporarily eased, leading the major US indices to close higher. Investors remain cautious however, but optimistic, balancing global uncertainties with expectations for future economic growth. Markets remained slow as investors assess global macroeconomic risks, including geopolitical tensions and central bank monetary policies. European indices displayed mixed performance, while US stocks held steady amid economic data releases.

Main US Stock Market Indices Performance:

• • Dow Jones Industrial Average rose by +40 points (+0.1%) to 42,196.52 points
  • S&P 500 index edged up slightly, gaining +1.80 points (+0.3%) to 5,709.54 points
  • NASDAQ index increased by +15 points (+0.1%) to 17,925.12 points
  • The small-cap Russell 2000 declined by -2 points (-0.1%) to 2,195.00 points

Main European Equity Market Performance:

• • Germany’s DAX dropped by -0.33%, reflecting subdued investor sentiment
  • France’s CAC 40 showed marginal improvement, up +0.05%
  • UK’s FTSE 100 posted a moderate gain of +0.2%, helped by stronger energy stocks
  • Spain’s Ibex 35 declined by -0.5%, continuing its downward trend due to weaker financial sector performance
  • Italy’s FTSE MIB fell by -0.3%, with losses led by major industrial stocks

S&P 500 Live Chart