The S&P 500 Breaks Through 6,000
Summary
- The prospect of the S&P 500 reaching 6,000 was closely linked to the expectation the Fed would continue cutting interest rates well into 2025, which didn't materialize as expected.
- The CME Group's FedWatch Tool projects the Fed will avoid cutting the Federal Funds Rate until the conclusion of its 17 September (2025-Q3) meeting, at which time, it will cut rates by a quarter percent to a target range of 4.00-4.25%.
- The completion of the Lévy flight also rules out the potential of another market regime change like the others that have taken place during 2025-Q2, at least through Friday, 6 June 2025.
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