Key Points
- S&P 500 reached a high of 6,141.43 before closing at 6,135.92.
- Market cap surpasses $51 trillion as risk appetite strengthens.
- Energy, utilities, and financials led gains, while only three sectors closed lower.
The S&P 500 surged to an all-time high of 6,141.43, before closing slightly lower at 6,135.92, marking its first record high of 2025. The index climbed from an opening price of 6,128.09, reflecting sustained bullish momentum.
The rally was driven by late-session buying, with traders piling into utilities, financials, and energy stocks. The energy sector led with a 1.4% gain, fuelled by Trump’s kickoff of US-Russia negotiations and rising oil prices. Meanwhile, the Dow Jones Industrial Average (DJIA) and the Nasdaq Composite posted smaller gains, closing under 0.1% higher each.
Trump’s Auto Tariff Plans Fail to Dampen Optimism
Despite Donald Trump announcing a 25% tariff on automobiles, pharmaceuticals, and semiconductors, the market held its ground. Automakers face the first wave of tariffs starting April 2, but investors largely brushed off trade concerns, focusing instead on broader economic resilience and corporate earnings growth.
While auto stocks saw some weakness, the S&P 500’s gains were supported by sector rotation into defensives and energy stocks, suggesting continued risk appetite despite policy uncertainties.
Technical Analysis: S&P 500 Remains in an Uptrend
Picture: S&P 500 holds gains at 6,135.92, eyeing resistance at 6,141.73 amid cautious optimism, , as seen on the VT Markets app.
The S&P 500 Index (SP500) edged 0.13% higher, closing at 6,135.92 after opening at 6,128.09. The session saw a high of 6,141.43 and a low of 6,128.54, reflecting moderate gains amid shifting market sentiment. A dip to 6,102.4 earlier in the session was followed by a strong recovery, signaling resilience despite initial sell-offs.
The moving averages (MA 5, 10, 30) indicate mixed momentum, with short-term MAs holding above the longer-term trend, suggesting near-term bullish strength. The MACD (12,26,9) recently crossed above the signal line but is now flattening, pointing to slowing momentum.
Key support stands at 6,102.4, while resistance is observed at 6,141.73. A sustained push above resistance could extend the rally, while a drop below support may trigger renewed selling pressure.
Market Outlook
With the Fed minutes scheduled for release today, traders will look for clues on interest rate policy. A dovish tone could extend gains, while any hawkish surprises may trigger volatility.
The S&P 500 remains in an uptrend, supported by sector rotation and strong risk appetite. While US tariffs pose long-term risks, market momentum remains intact. The Fed’s policy stance and corporate earnings will be key factors driving future market direction.
