S&P 500 Rises 1.8% Thursday, Stays Above Key Moving Averages

The S&P 500 climbed 1.8% on Thursday, its biggest single-day increase in more than two months, helping the index finish the trading week up 0.6%. The benchmark remained above both its 50-day and 200-day moving averages at the close.

The index has traded above the 50-day and 200-day moving averages since April 8, 2026. The 50-day average crossed above the 200-day average on July 1, 2025. The late-week rally followed a weak start to the week and concentrated gains in the latter sessions.

On a year-to-date basis the market-cap-weighted S&P 500 is up 10.2%, while the S&P 500 Equal Weight Index has risen 8.6%. Investors can track the benchmark through exchange-traded funds such as iShares Core S&P 500 ETF (IVV), SPDR S&P 500 ETF Trust (SPY) and Vanguard S&P 500 ETF (VOO); equal-weight exposure is available via Invesco’s S&P 500 Equal Weight ETF (RSP).

Short-term volatility remains above some of the calmest periods earlier in the cycle. Over the past 20 trading days the average intraday range — the percent difference between the intraday low and high — was about 1.15%. The index recorded an intraday swing of 10.77% on April 9, 2025, the largest single-day intraday range since Dec. 24, 2018, when the intraday move reached 19.10%.

For historical context, the S&P 500 closed at a then-record 1,565.15 on Oct. 9, 2007 and fell roughly 57% to a low of 676.53 on March 9, 2009. The index did not close above the 2007 high until March 28, 2013, when it reached 1,569.19. The series of notable drawdowns in 2022 is visible on longer-term charts.

Traders and investors are watching near-term volatility, the relationship between moving averages and the gap between cap-weighted and equal-weighted returns for signs of market leadership and risk appetite.