{"id":24149,"date":"2025-06-09T10:52:15","date_gmt":"2025-06-09T10:52:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=24149"},"modified":"2025-06-09T10:52:15","modified_gmt":"2025-06-09T10:52:15","slug":"sp-500-holds-as-tech-fuels-second-weekly-gain","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/sp-500-holds-as-tech-fuels-second-weekly-gain\/","title":{"rendered":"S&amp;P 500 Holds as Tech Fuels Second Weekly Gain"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image_fx_-2025-03-25T164602.009-1024x559.png\" alt=\"\" class=\"wp-image-19214\"\/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>S&amp;P 500 closes at 6,007.85, up 1.5% on the week; back above 6,000 for first time since February.<\/li>\n\n\n\n<li>Nasdaq climbs 2.2% amid AI-fuelled chip rally; down just 3.2% from record close.<\/li>\n\n\n\n<li>Communication Services (+3.2%) and Tech (+3%) lead sector gains; Energy follows on oil rebound.<\/li>\n\n\n\n<li>CrowdStrike, Tesla drag Discretionary; Staples retreat on tariff-linked retail jitters.<\/li>\n\n\n\n<li>10-year Treasury yield tests key support at 55-DMA, ends near 4.5%.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p>Wall Street wrapped its second straight week of gains on a strong footing, with the S&amp;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 \u2014 just 2.3% below its record close.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">A catalyst that would push the S&amp;P 500 back toward its record high is proving elusive, prompting some to hedge against a selloff <a href=\"https:\/\/t.co\/xUNoA9OiQH\">https:\/\/t.co\/xUNoA9OiQH<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1931326473064833327?ref_src=twsrc%5Etfw\">June 7, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The tone was risk-on from the open, despite intermittent tension from the <a href=\"https:\/\/t.co\/A2oAElCD7G\" target=\"_blank\" rel=\"noopener\" title=\"\">Trump-Musk tariff feud<\/a>. Solid payrolls and revived hopes for progress in US\u2013China trade talks helped override the noise. The Nasdaq Composite took the lead, driven by <a href=\"https:\/\/t.co\/jbycNjQcAl\" target=\"_blank\" rel=\"noopener\" title=\"\">AI and chip stocks<\/a>, closing the week up 2.2% and eyeing its own record high.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>From a technical lens, the S&amp;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.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-8-1024x453.jpg\" alt=\"\" class=\"wp-image-24150\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: SP500 holds 6000 as momentum cools above key support, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets app<\/a><\/em><\/p>\n\n\n\n<p>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\u20136,100 range, particularly with earnings revisions and macro tailwinds in play.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Tariff Drama &amp; Treasury Yields<\/h2>\n\n\n\n<p>The market\u2019s resilience came despite a turbulent week in Washington. Trump\u2019s increasingly personal spat with Elon Musk rattled Tesla and <a href=\"https:\/\/t.co\/r2ndKI0X3X\" target=\"_blank\" rel=\"noopener\" title=\"\">sparked a sharp correction in the EV space<\/a>. Still, broader traders were more focused on dovish shifts in economic data, with the <a href=\"https:\/\/t.co\/mmbxreStaa\" target=\"_blank\" rel=\"noopener\" title=\"\">10-year Treasury yield testing<\/a> its 55-day moving average before closing near 4.5% \u2014 a crucial level for rate-sensitive sectors.<\/p>\n\n\n\n<p>Momentum remains constructive as long as the S&amp;P 500 stays above the 5,960\u20135,980 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.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*1azgbap*_gcl_au*NjE5NTE3MjY4LjE3NDQ2MDA3NDI.*_ga*MTY4OTgwNTU5Mi4xNzM2NzQ2MTgy*_ga_J26NL1ZVX7*czE3NDQ5NDQ0NTYkbzEyMCRnMCR0MTc0NDk0NDQ1NiRqNjAkbDAkaDA.\">start trading<\/a><\/strong><strong> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Benchmark index rises 1.5% for the week; Nasdaq surges as AI and chip optimism outweigh tariff noise. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":19214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[11,69],"class_list":["post-24149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-indices","tag-sp500"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/24149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=24149"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/24149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/19214"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=24149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=24149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=24149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}