The S&P 500 (SPX) has remained firmly in the red after opening this morning with a 0.32% loss. Unlike the past two weeks, the Trump administration has not made any announcements on tariff or trade negotiations this week. The benchmark index has closed in positive territory for six consecutive days, although that may come to an end today.
Confident Investing Starts Here:
Last week, the U.S. announced that it had paused reciprocal tariffs on China for 90 days amid a slew of investment and economic commitments from Saudi Arabia, Qatar, and the United Arab Emirates. President Trump announced a U.S.-UK trade deal the week before that.
As a result, investors are firmly lodged in a state of “optimism without clarity,” said U.S. Bank Wealth Management’s Bill Northey in an interview with CNBC.
The S&P 500 is down by 0.33% at the time of writing but is still up by nearly 20% from its April low.
Which Stocks are Moving the S&P 500?
Let’s head over to TipRank’s S&P 500 Heatmap, which illustrates the stocks responsible for the index’s price action.

Technology, the largest sector within the index, shows both Apple (AAPL) and Nvidia (NVDA) with ~1% losses, adding downward pressure. Magnificent 7 members Google (GOOG) (GOOGL) and Meta Platforms (META) are also in the red while Tesla (TSLA) is offering a green beacon in a sea of red. This morning, Elon Musk announced a commitment to stay on as the electric vehicle company’s CEO for the next five years.
SPY Stock Moves Higher with the S&P 500
The SPDR S&P 500 ETF (SPY) is an exchange-traded fund designed to track the movement of the S&P 500.

Wall Street believes that SPY should be priced higher. During the past three months, analysts have issued an average SPY price target of $652.81 for the stocks within the index, implying upside of 10.07% from current prices. The 504 stocks in the SPY carry 416 buy ratings, 80 hold ratings, and 8 sell ratings.