SPY Breaks Resistance as Financials Lead Sector Rotation
Equities staged a broad-based advance on September 4, led by financials and technology as the market rotated into cyclical sectors. SPY closed at $773.17, up 1.05% on elevated volume of 42.6 million shares. The ETF, which tracks the S&P 500, pushed above recent resistance and set the stage for a test of the year-to-date peak. Market volatility collapsed, with the VIX falling 5.79% to 14.32, its lowest level since mid-August. That drop in the fear gauge suggests options traders are pricing in less near-term turbulence.
Key Takeaways SPY closed at $773.17, up 1.05% on volume of 42.6 million shares, breaking above recent resistance. The VIX fell 5.79% to 14.32, approaching year-to-date lows and…
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