Headline: S&P 500 Slides 1.2% to Session Lows Despite Upbeat Earnings
U.S. equities retreated to fresh session lows, with the S&P 500 down 1.2% as risk appetite faded into the afternoon. The pullback came even as corporate updates and economic data failed to deliver a clear bearish trigger, underscoring fragile sentiment across the stock market.
The decline contrasted with solid numbers from leading names. Nvidia delivered strong earnings, while Walmart offered a constructive read on consumer demand, with its shares up around 6% intraday. Meanwhile, the latest jobs report landed close to expectations, neither stoking inflation fears nor signaling a sharp slowdown—yet that balance wasn’t enough to steady indices.
Technical factors appeared to dominate the tape. The S&P 500’s daily chart printed a notably weak candle, and several traders flagged a developing head-and-shoulders formation. If confirmed, that pattern would imply potential downside toward the 6200 area—roughly a 5% move—placing greater focus on near-term support levels and market breadth as investors gauge the next leg.
Key Points: – S&P 500 fell 1.2% to new session lows. – No clear bearish catalyst: upbeat Nvidia results and constructive Walmart commentary. – Walmart shares gained about 6% intraday. – Jobs data came in broadly in line with expectations. – Technicals in focus: potential head-and-shoulders pattern targeting the 6200 area (~5% downside). – Risk sentiment remains delicate despite supportive corporate and macro signals.
