SPX 500

Markets had a wild overnight session, with futures initially plunging before staging a sharp reversal and turning decisively higher. Global equity markets also bounced back, alongside gold and silver, while the US dollar has weakened. Oil prices fell on hopes of a deal between the US and Iran, providing another boost to market sentiment. The key question is why have markets rebounded so strongly and, more importantly, whether the recovery can last, given the prior assumption that a blue sweep would have been net negative for stocks?

The trading week is coming to an end, and a phase of weakness remains evident across the S&P 500 in the short term. Recent price action reflects this dynamic, with SPX losing more than 2.00% over the last two trading sessions, bringing selling pressure back into focus.

It’s been a rocky few weeks for stocks starting with a bearish engulf in NVDA a few weeks ago and then the same formation in the S&P 500 two weeks ago. Sellers have since chewed through supports and fear is starting to spread, but is this the beginning of the end for the AI rally?

U.S. stocks are rising cautiously ahead of the Federal Reserve interest rate decision later today, as well as key tech earnings after the close.

U.S. stocks are rising as oil prices ease and investors cautiously look ahead to U.S. megacap earnings as a test of the AI trade. The Federal Reserve has also kicked off its two-day meeting ahead of tomorrow's announcement.

A failed S&P breakout and looming Nasdaq support test raise the stakes for next week’s Fed decision and October’s monthly close.

And just like that, it is Friday again and the end of a volatile week. Today offers little on the macro calendar to change the prevailing narrative, leaving markets largely at the mercy of risk appetite, oil prices and the growing unease around the AI trade.

U.S. stocks are falling sharply on Thursday, led by the tech sector, as Meta Platforms' negative free cash flow unnerved markets, while oil prices continued rising, adding to inflationary concerns.

U.S. stocks are pointing to a moderately higher open as investors digest the latest corporate earnings and developments in the AI sector ahead of more results from Tesla and Meta Platforms later today.

S&P 500 and the Dow Jones are set to open higher as dip buyers emerge following last week’s AI sell-off, oil prices decline and attention turns to key earnings reports this week.

Stocks started to shake last week and there was even a hint of this in the prior week. The question now is whether we’re at the point where buyers may abandon pullbacks as get closer to mid-term elections.