S&P 500

Key insight

7,682 holds above 50-day MA (7,580) but month-end selling and oil's +1.8% spike to $84 risk a rotation out of rate-sensitive tech into energy — watch whether 7,700 reclaims by close.

Fades 0.4% on last day of August at 7,682 — broad risk-off tone with Nasdaq -0.5%, BTC -1.3%, yet index holds above the 50-day MA near 7,580, keeping bulls structurally intact.

Main risk

Oil spike re-igniting inflation fears

Oil surges +1.8% to $84.4 — a sustained move above $85 revives CPI upside risk and pressures Fed to hold rates higher, capping equity multiples.