S&P 500

Key insight

7,700 round resistance caps the rally — break above confirms extension toward 7,850; failure risks a retest of 7,500 50-day MA. Oil at $93 tightens the margin outlook for rate-sensitive sectors.

7,673 holds above the 200-day MA near 7,200 but stalls below the 7,700 round resistance; modest -0.43% pullback with oil at $93 adding cost pressure.

Main risk

Oil at $93 — margin & inflation shock

Oil +1.4% to $93.3 lifts input costs, risks re-accelerating CPI and delays any Fed pivot, pressuring multiples.