SPX Muted Despite Rising Rates

"On April 8, the broad S&P 500 index finished that session below the 5,000 mark and within inches of the threshold for a bear market. The S&P 500 climbed around 9.5% in that session, marking one of its best days on record."

"Wren highlights that while the S&P 500 continuously hits record highs, intense 'churn' persists beneath the surface. A prime example is the Information Technology sector, which surged 45.2% in the second quarter after a poor first-quarter showing."

"The S&P 500 edged down just 0.1% from its all-time high after the United States attacked and seized an Iranian-flagged cargo vessel."

"The S&P 500 added 0.4%, a day after its latest wild swings caused by extreme moves in the oil market."

"Jeffrey Buchbinder and Adam Turnquist of LPL Financial maintain a tactically neutral stance on equities despite the ongoing conflict in Iran. While they acknowledge that geopolitical shocks 'understandably cause nervousness,' they emphasize that the S&P 500 has historically been resilient, typically experiencing pullbacks of only 4.5% on average before stabilizing within a month."

"Citi said, 'a high valuation starting point is a hurdle for the market, but not an insurmountable one.'"

"The S&P 500 posted 11 new 52-week highs and 25 new lows while the Nasdaq Composite recorded 50 new highs and 95 new lows."

"I do not anticipate the United States entering a recession; however, I do expect the economy to experience a slowdown."

""The major market averages look for direction on Thursday, while yields were lower...""

"The brokerage added that index volatility increases before the election during election years, but following the election, volatility typically subsides and the S&P 500 index rebounds to an even higher level."