S&P500 Declines Amid Rising Yields and Currency Strength Ahead of Economic Data
The S&P500 index has declined ahead of key US economic data releases. Higher Treasury yields and a stronger US dollar are putting pressure on growth stocks and broader equity valuations.
Traders are closely watching the upcoming PCE inflation report, ISM manufacturing data, and non-farm payrolls report for clues on future Federal Reserve policy expectations.
The index is trading around 7,728, with price recovering above the short-term MA 9 indicator. The immediate resistance level is around 7,750, while support is located near 7,720.