SPX: uncertainty holds

Another relatively mixed trading week for US equities. The most important weekly event was certainly the FOMC meeting, where the Fed decided to hold interest rates unchanged for one more time. Important input was that the Fed is still on the track of two rate cuts during the course of the year, which modestly supported positive market sentiment. Still, uncertainties regarding decisions of the US Administration, specially related to trade tariffs are leaving the mark for precaution among market participants. Along with the trade tariffs, consultant companies like Accenture are affected by the DOGE cuts in spending and whose shares suffered a 7,3% drop in value.

The S&P 500 was traded higher by 0,5% on a weekly level. However, uncertainty is still evident in the index moves. The highest weekly level was 5.710, while the index closed the week at the level of 5.667. Companies are starting to bring up their estimates regarding future earnings. Currently, some of them noted expectations that trade tariffs will impact their future sales, planning of capital spending and jobs. As long as uncertainty holds on the market, the prices of stocks will be in a volatile mood. In this sense, it should not be expected to see some exponential moves in the S&P 500, like it was during the previous two years.