Insights 
VT 
Key Points
- S&P 500 closes at 6,007.85, up 1.5% on the week; back above 6,000 for first time since February.
- Nasdaq climbs 2.2% amid AI-fuelled chip rally; down just 3.2% from record close.
- Communication Services (+3.2%) and Tech (+3%) lead sector gains; Energy follows on oil rebound.
- CrowdStrike, Tesla drag Discretionary; Staples retreat on tariff-linked retail jitters.
- 10-year Treasury yield tests key support at 55-DMA, ends near 4.5%.
Wall Street wrapped its second straight week of gains on a strong footing, with the S&P 500 firmly back above the psychological 6,000 mark. Aided by easing inflation jitters and a tech sector that simply refuses to slow down, the index closed Friday at 6,007.85 — just 2.3% below its record close.
The tone was risk-on from the open, despite intermittent tension from the Trump-Musk tariff feud. Solid payrolls and revived hopes for progress in US–China trade talks helped override the noise. The Nasdaq Composite took the lead, driven by AI and chip stocks, closing the week up 2.2% and eyeing its own record high.
Technical Analysis
From a technical lens, the S&P 500 tested a high of 6,014.53 on Friday before pulling back modestly. The index held firm above both short-term moving averages on the 15-minute chart. The MACD remains in a bullish zone, though the histogram is flattening, hinting at consolidation ahead unless new catalysts emerge.
Picture: SP500 holds 6000 as momentum cools above key support, as seen on the VT Markets app
The pullback to 5,926.92 midweek now marks immediate support, while 6,023.1 remains intraday resistance. A clean break above that level could accelerate momentum into the 6,050–6,100 range, particularly with earnings revisions and macro tailwinds in play.
Tariff Drama & Treasury Yields
The market’s resilience came despite a turbulent week in Washington. Trump’s increasingly personal spat with Elon Musk rattled Tesla and sparked a sharp correction in the EV space. Still, broader traders were more focused on dovish shifts in economic data, with the 10-year Treasury yield testing its 55-day moving average before closing near 4.5% — a crucial level for rate-sensitive sectors.
Momentum remains constructive as long as the S&P 500 stays above the 5,960–5,980 support band. But with gains becoming stretched and the MACD flattening, traders may see a breather unless trade negotiations or tech headlines provide fresh upside fuel.
