iShares Core S&P 500 ETF

IVV

Market cap $753B

The SPDR Portfolio S&P 500 ETF offers a low-cost, liquid option for long-term S&P 500 exposure, with a 0.02% expense ratio. The S&P 500 median company is currently overvalued by 13% relative to 11-year historical averages, with quality near baseline. Energy leads in both value and quality scores, while materials and industrials are notably overvalued and least compelling fundamentally.

I use junk bond yields as a leading signal to gauge equity market risk. Their sensitivity to investor risk appetite complements traditional indicators like P/E ratios.

The S&P 500 slipped back below its 50-day moving average to end the week, marking the index's seventh cross of the key trendline this February. The index finished the week with a loss of -0.4% and is now 1.43% off its all-time high from January 27, 2026.

The S&P 500 Index slipped 1% in February, but SMID-caps and international equities delivered strong positive returns, highlighting the value of diversification. Bond markets rallied with AGG up nearly 2% as Treasury yields fell to multi-month lows, while high-yield spreads widened on private credit concerns.

CNBC's Morgan Brennan reports on markets rotating out of tech into broader sectors, with the S&P 500 Equal Weight Index at a record high as utilities, energy, and transports lead gains while communications and discretionary lag.

The AI trade has gotten stretched—and the market has plenty of other things to worry about.

The US indices are all relatively flat in the early hours of Friday, as we look for the next move in America.

U.S. stock futures fell on Friday after a mixed close on Thursday. Futures of major benchmark indices were negative.

A stealth correction in the market is in progress, according to one expert. Looking under the hood of the S&P 500, stocks have "basically crashed," Mike Wilson, Morgan Stanley's chief US equity strategist, said in an interview with CNBC Thursday morning.

Nvidia Corp. has the heft to make or break the U.S. stock market — and on Thursday the technology giant dragged down the S&P 500.