S&P 500

S&P500 fell on oil-driven inflation fears and weaker labor data

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<Fundamentals>
US equities weakened over the week as Middle East tensions and the resulting surge in oil prices revived inflation concerns. The downturn was compounded by slowing Feb employment and persistent anxiety around private credit markets.

Airline stocks also fell sharply as surging oil prices pushed jet fuel costs higher. United Airlines CEO Scott Kirby warned that elevated oil prices could significantly impact first-quarter earnings.

JPMorgan (JPM) noted that US equities have held up relatively well despite expanding risks but urged caution, warning that any relief rally could fade unless geopolitical tensions ease or policy clarity emerges.

<Technicals>
The S&P 500 briefly retested EMA78 before falling below the support at 6780. The diverging bearish EMAs indicate the potential continuation of the downtrend. If the S&P 500 breaks below 6700, the index could extend its decline toward 6600. Conversely, a breach above the resistance at 6780 may allow the index to reclaim both EMAs.

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