S&P500 Dips Ahead of Key US Data Releases Amid Higher Yields

The S&P500 index experienced a decline ahead of key US economic data releases. Higher Treasury yields and a stronger US dollar have put pressure on growth stocks and broader equity valuations.

Investors are awaiting the upcoming PCE inflation report, ISM manufacturing data, and non-farm payrolls report to gauge expectations for future Federal Reserve policy.

The S&P500 remains near record levels but has struggled with short-term momentum. The index is currently trading around 7,728, above its short-term MA9 indicator.