S&P 500

Key insight

7,740 August all-time high is the gate — no sustained breakout yet. Oil +1.1% to $92 lifts energy but raises stagflation concern; gold -1.0% signals real-yield lift. Hold range until catalyst.

7,671 holds above the 50-day MA near 7,580 but stalls below the August all-time high at 7,740 — flat tape with Europe down 0.5–0.6% and gold sliding signals risk-off pressure.

Main risk

10-Year Treasury Yield Surge

Rising real yields compress equity multiples — a move above 4.80% on the 10-yr would pressure the S&P 500 below 7,580 50-day MA.