S&P 500 Nears 7,400 After Sixth Straight Weekly Gain

The S&P 500 finished the week at fresh record highs, rising 2.3% for the week and extending its streak to six consecutive weekly gains, matching its longest run since October 2024. The index traded near the 7,400 level at the close.

Year-to-date through the close, the S&P 500 is up 8.08%. The S&P 500 Equal Weight Index, which gives each constituent the same weight, is up 6.48% for the year. Exchange-traded funds that track these benchmarks include iShares Core S&P 500 ETF (IVV), SPDR S&P 500 ETF Trust (SPY), Vanguard S&P 500 ETF (VOO), SPDR Portfolio S&P 500 ETF (SPYM) and Invesco S&P 500 Equal Weight ETF (RSP).

On technical measures, the index has traded above both its 50-day and 200-day moving averages since April 8, 2026. The 50-day moving average has been above the 200-day moving average since July 1, 2025. Traders commonly watch those averages to assess trend direction and momentum.

Volatility data show that the largest intraday price swing since late 2018 occurred on April 9, 2025, when the S&P 500 recorded a 10.77% intraday range. The last larger intraday swing was 19.10% on December 24, 2018. Over the past 20 trading days, the average intraday range from low to high has been about 0.80%.

Historical drawdown data provide context for long-term market cycles. The index peaked at 1,565.15 on October 9, 2007, then fell about 57% to a low of 676.53 on March 9, 2009 during the Global Financial Crisis. The S&P 500 did not close above the 2007 peak again until March 28, 2013, when it closed at 1,569.19. More recent significant selloffs occurred in 2022, producing sharp corrections and spikes in intraday volatility.

Market data also track the number of days with 1% or greater moves and the number of correction days (a drop of 10% or more from a record high). The gap between the market-cap-weighted S&P 500 and the equal-weight index this year indicates that larger-capitalization companies have accounted for a larger share of the index’s gains so far in 2026.