S&P 500 'Far From Capitulation' Despite Oil Shock And Iran War, Says iCapital's Sonali Basak - State Street SPDR S&P 500 ETF Trust (ARCA:SPY)

S&P 500 'Far From Capitulation' Despite Oil Shock And Iran War, Says iCapital's Sonali Basak - State Street SPDR S&P 500 ETF Trust (ARCA:SPY)

Sonali Basak, Chief Investment Strategist at iCapital, posted a measured check on X Monday morning. “The S&P 500 is less than 5% off its intraday heights, and >150 points above its 200-day moving average,” Basak wrote. “We are far from capitulation.” The index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) is trading on Monday at 6,697.79, down 42.23 points or 0.63%. The Nasdaq-100, as tracked by Invesco QQQ Trust (NASDAQ:QQQ) slipped 0.33…

Sustained oil supply disruption could drag S&P 500 earnings this year

Oil prices on Monday surged to more than $119 a ​barrel, hitting levels not seen since mid-2022, as a widening U.S.-Israeli war with Iran cut supplies