Good evening, you're tuned in to Markets Desk, and here's where things stand.
The S&P five hundred closed Thursday right on the edge of a key technical support line, and traders are watching closely. A confirmed break below that level would signal deteriorating momentum and could open the door to further losses in the sessions ahead. The charts are sending a warning that fundamentals alone may not be able to ignore.
Shifting to the macro picture, the dollar weakened modestly today as stocks rallied and bond yields pulled back. Benign core PCE inflation data out of May gave markets reason to believe the Federal Reserve has little urgency to tighten further, removing one of the dollar's key supports. The DXY slipped roughly two tenths of a percent on the session.
And in the energy space, a new survey from the Federal Reserve Banks of Richmond and Atlanta alongside Duke University's Fuqua School finds that American CFOs absorbed recent oil price shocks, but they are not confident they can do it again. With the Strait of Hormuz closure still weighing on energy costs, anxiety around a second inflation wave is building quietly in corporate boardrooms across the country.
That's the tape. Markets Desk, signing off the floor.
