Half of SPX Stocks Below 50-Day SMA, NVDA Buying Hugging Face for $12.93B

A growing number of S&P 500 stocks are trading below their 50-day SMA, flagged as a momentum warning by Tom White. The setup is further complicated for the Fed’s rate outlook as crude oil pushes to $93, potentially reinforcing higher inflation risk. Net effect is a cautious near-term backdrop for rates and equity momentum rather than a definitive shock.