As the rally stalls, the S&P 500 receives another heat check – US Market Wrap

Wall Street’s steady rise since April’s catastrophe continues to show symptoms that the stock market is overextended, prompting demands for a pause at a time when the classic dip-buying strategy remains firmly in force.
Nobody has to look far to find signs that the market is bubbly, following a 36% increase from April’s low, which drove values to levels associated with periods of frenzy. While AI optimism has kept the party going for equities, recent talk of a bubble building in the group that has propelled the bull market has piqued the interest of investors around the world.
The S&P 500 dropped to around 6,735. The yield on 10-year Treasuries increased three basis points to 4.14%. The dollar reached a ten-week high. Silver has reached $50 for the first time since the Hunt Brothers’ 1980 crush. Oil prices fell as tensions in the Middle East eased.
Traders also examined words from Federal Reserve speakers, including Fed’s Barr’s appeal for caution when it comes to further rate decreases. Fed’s Williams supported greater easing, telling the New York Times that he is closely monitoring the job environment.