State Street SPDR S&P 500 ETF Trust

SPY

Market cap $699B

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.

This article provides an update on the monthly moving averages we track for the S&P 500 and the Ivy Portfolio after the close of the last business day of the month. The Ivy Portfolio The Ivy Portfolio is based on the asset allocation strategy used by endowment funds from Harvard and Yale.

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 ProShares S&P 500 Dividend Aristocrat ETF (NOBL) is up 9.39% YTD in 2026, decisively outperforming SPY's 1.08%. Dividend Aristocrats are regaining momentum after a weak 2025, with 55 outpacing SPY and 39 posting double-digit gains this year already. Dividend growth is lagging, with 2026's average increase currently at 3.22%, below last year's trend and potentially signaling headwinds.

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.