The S&P 500 (+0.36%) climbed to another record high, showing resilience despite political uncertainty in Europe and the ongoing US government shutdown. Gains were driven largely by a massive 23.7% surge in AMD after news that OpenAI will purchase tens of billions of dollars’ worth of its chips, making AMD the standout performer in the index.
Even though over half of S&P 500 constituents declined, tech strength — led by AMD and NASDAQ’s 0.71% advance — lifted the broader market. After the close, news of the US government taking a 10% stake in Canada’s Trilogy Metals (up 215% in after-hours) reinforced investor focus on critical minerals.
Gold eased slightly from the $4,000 mark but remains strong amid global uncertainty, while Tesla’s upcoming launch of a cheaper Model Y could influence sector sentiment. Overall, tech leadership continues to support the S&P 500’s momentum despite mixed breadth and macro headwinds.
Key Support and Resistance Levels
Resistance Level 1: 6768
Resistance Level 2: 6800
Resistance Level 3: 6820
Support Level 1: 6696
Support Level 2: 6670
Support Level 3: 6640
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Even though over half of S&P 500 constituents declined, tech strength — led by AMD and NASDAQ’s 0.71% advance — lifted the broader market. After the close, news of the US government taking a 10% stake in Canada’s Trilogy Metals (up 215% in after-hours) reinforced investor focus on critical minerals.
Gold eased slightly from the $4,000 mark but remains strong amid global uncertainty, while Tesla’s upcoming launch of a cheaper Model Y could influence sector sentiment. Overall, tech leadership continues to support the S&P 500’s momentum despite mixed breadth and macro headwinds.
Key Support and Resistance Levels
Resistance Level 1: 6768
Resistance Level 2: 6800
Resistance Level 3: 6820
Support Level 1: 6696
Support Level 2: 6670
Support Level 3: 6640
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.