Markets Today:S&P 500 makes all time highs even with brent crude oil over $100 a barrel and inflation fears looming in the background , the S&p500 only up around 0.60% but just touched that all time high , the russell 2000 small cap index was down 0,50% for day maybe showing that the smaller more interest rate sensitive company's are following the macro narrative and not speculation . meanwhile NVIDIA hit a record high today pulling back intraday after making highs, big tech making there move into the energy sector with google doing an energy deal with constellation energy corp . Six out of seven magnificent mag seven mega cap tech stocks up today with NVIDIA,apple,tesla,amazon,google and meta down . The thing is about market tops, traders and investors take profits and also short sell the top .
US equities charged into record territory as the S&P 500 capitalised on a tech-led surge. The Magnificent Seven spearheaded the move, offsetting broader concerns regarding tariff-induced price hikes and a restructuring of Federal Reserve bank supervision. Global markets remain focused on the intersection of AI-driven growth and tightening resource constraints as Wall Street profits hit 45.9 billion dollars for the first half of the year.
Massive AI consumption is projected to push US power demand to record highs through 2027 according to latest EIA data. This energy crunch coincides with Saudi Aramco reporting oil inventories at stress levels, with only 10 percent availability currently reachable. Consequently, the EIA raised oil price forecasts as Middle East tensions continue to pressure global stockpiles, even as the US administration considers a suspension of the federal gas tax.
The US Treasury successfully auctioned 58 billion dollars in three-year notes at a 4.932 percent high yield amid shifting fiscal priorities. Fed Governor Daly emphasized that future policy tightening remains contingent on the economy's ability to absorb shocks, even as the central bank begins a structural overhaul of its oversight model. In digital assets, Bitcoin flirted with the 87,000 dollar level while the UK moved to launch its first digitally native government bond.
Watch for imminent copper breakout levels and further details on the proposed federal gas tax suspension.