S&P 500 maintains uptrend amid inflation and rate concerns

The S&P 500 remains in an uptrend, recently closing near record highs at approximately 7,718.60. While the broader market structure remains positive, investors are closely monitoring key resistance at the 7,800 level. A breakout above this mark could signal further bullish momentum, whereas a rejection might lead to a short-term pullback toward support zones between 7,550 and 7,600.

Market outlook is currently influenced by concerns regarding inflation and the Federal Reserve's interest rate trajectory. Following stronger-than-expected jobs data, there is growing apprehension that rates may remain elevated for a longer period, which places pressure on high-valuation technology stocks. Upcoming PPI and CPI inflation reports are expected to be decisive factors in determining whether market momentum continues or faces a correction.