S&P500 - rate expectations and strong corporate earningsUS 500 (per 1.0)TRADENATION:US500TradeNationUS equities extended their gains as softer-than-expected June producer inflation reinforced expectations that the Fed will remain on hold. A weaker PPI report, downward revisions to prior data, and benign PCE inflation components pushed Treasury yields lower, with the 2-year yield falling to 4.14% and the 10-year to 4.55%. Fed Chair Kevin Warsh reiterated the Fed's independence without signalling any policy shift, while Governor Cook maintained a cautious hawkish stance, saying further tightening remains possible if disinflation stalls. The S&P 500 rose 0.38%, supported by easing rate expectations and strong corporate earnings, while the Nasdaq gained 0.62%. BlackRock surged after beating earnings estimates, although semiconductor stocks remained under pressure, with the Philadelphia Semiconductor Index falling 2.08%. TSMC delivered better-than-expected results and raised its sales outlook, but AI-related shares saw mixed performance as investors questioned the pace of hyperscaler spending and rotated into other sectors expected to benefit from AI investment. Geopolitical risks remain elevated as renewed US strikes on Iran and attacks on Russian oil tankers kept Brent crude near $85 a barrel. Meanwhile, trade tensions resurfaced after the US announced tariffs on selected Brazilian imports, adding another source of uncertainty for investors. Overall, lower bond yields and resilient earnings continue to support the broader market, although elevated oil prices and geopolitical developments remain key risks for sentiment. Key Support and Resistance Levels Resistance Level 1: 7,600 Resistance Level 2: 7,632 Resistance Level 3: 7,688 Support Level 1: 7,470 Support Level 2: 7,425 Support Level 3: 7,364 The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. To the extent permitted by law, in no event shall Trade Nation (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk. Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Financial Spread Bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.