What Is US 500 Doing Today
US 500 is our name for the S&P 500, the index of 500 large US companies that is the broadest measure of the US stock market. We track it through the SPY ETF, the exchange-traded fund that holds the index, so the price shown is the fund's price, roughly one tenth of the index level, and the percentage move is the same.
Every 3 hours we score the latest US equity headlines on the same 0 to 100 scale we use for the 8 major currencies, then compare the US 500 score with the US dollar score from the same cycle. The gap between the two gives the US 500 read: equity sentiment running ahead of the dollar leans the index up, the dollar running ahead leans it down.
How to read the bias: A gap above +10 means a clear US 500 upside skew, below -10 a clear downside skew. Anything from -10 to +10 is Neutral: the US 500 and the dollar are evenly matched in the headlines and there is no clear lean.
US 500 Profile
- Quote: the SPY ETF price in US dollars, roughly one tenth of the S&P 500 index level
- Index: 500 large US companies weighted by market value, so the biggest technology names carry the most weight
- Pip convention on this site: 1 pip is $0.01 on the ETF price. Index CFDs are quoted on the index level with their own point values, so check your own account specification
- Trading hours: New York hours, 09:30 to 16:00 Eastern time (13:30 to 20:00 UTC in US summer time, 14:30 to 21:00 UTC in winter), Monday to Friday. Outside those hours the last close is shown
- Related markets: US Tech 100 and Dow 30 (the other US benchmarks), USD/JPY (risk appetite), XAU/USD (the safe haven)
What Moves US 500
The index reacts to the earnings and growth story of US companies and to the rates and dollar backdrop. Here is what to watch on each side:
US 500 (SPX) side
- Corporate earnings and guidance, above all from the mega-cap technology names
- Federal Reserve decisions and the path of Treasury yields
- US inflation, jobs and growth data against expectations
- Tariffs, trade policy and fiscal events such as a government shutdown
- Risk appetite: geopolitics, volatility and flows into or out of equities
US Dollar (USD) side
- Fed (FOMC) rate decisions and the tone of the press conference
- US CPI and PCE inflation prints
- NFP non-farm payrolls (first Friday of the month)
- US Treasury yields, particularly the 2-year and 10-year
- Broad dollar strength: a rallying dollar is a headwind for anything priced in it
Common Questions About US 500
Is the US 500 bullish or bearish today?
The bias card at the top of this page shows the US 500 label. Free visitors see the label from the previous 3-hour cycle. Pro members see the live US 500 score, the gap against the US dollar, the drivers behind it and the session calls.
How is the US 500 sentiment score worked out?
Every 3 hours we read the latest headlines that touch US stocks and the US dollar: earnings, Fed policy, inflation and jobs data, tariffs and risk appetite. The US 500 gets its own score from 0 to 100, where 50 is neutral. The US 500 read compares that score with the US dollar score from the same cycle: a gap above +10 is Bullish, below -10 is Bearish, and anything in between is Neutral.
Why is the price the SPY ETF and not the index?
Index levels are licensed data, so the reference price on this page is the SPY ETF, the exchange-traded fund that holds the S&P 500. Its price is roughly one tenth of the index level and moves by the same percentage, which is what the session calls are scored on.
When does the US 500 trade?
The US stock market is open in New York hours, 09:30 to 16:00 Eastern time (13:30 to 20:00 UTC in US summer time, 14:30 to 21:00 UTC in winter), Monday to Friday. The session call for the US 500 is published at the New York open; there are no Asia or London calls because the market is closed then. Futures and CFDs trade longer hours with your broker.
What moves the S&P 500?
The main drivers are corporate earnings and guidance, Federal Reserve policy and Treasury yields, inflation and jobs data, tariffs and trade policy, and risk appetite. Strong earnings, an easier Fed and cooling inflation support it; a hawkish Fed, hot inflation, weak guidance and tariff escalation weigh on it.
Is the live US 500 score free?
The US 500 pair label is free and runs one 3-hour cycle behind. The live US 500 score, the drivers, the session calls, the history chart and API access are part of Pro.
Trading US 500 today?
Pepperstone offers US 500 and other index CFDs alongside forex, with MT4/MT5/cTrader support. Product availability varies by region.
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