Image: Traders UnionS&P 500 index holds near 7,661 resistance as Federal Reserve rate hike tempers momentum
• The S&P 500 index rose 0.95% today to reach 7,623 as it approached a resistance level of 7,661. • Technical indicators signaled intraday weakness while Federal Reserve rate hikes tempered overall market momentum. • These rate hikes create a headwind for stock valuations and influence investor sentiment across the broader market.
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