The broad-based S&P500 feels anchored to the 6100 area even as reporting season adds weight to the bullish case. The Fed may be set to pause on rate cuts, but some comments from McDonald’s following their sluggish fourth-quarter sales, “purchases from low-income guests were down substantially” and “The overall market is pretty muted,” said CEO Chris Kempczinski. The market’s ability to absorb headlines around DeepSeek and tariffs suggests another leg higher is the path of least resistance, we can see a move towards 6300 but wouldn’t be cashing such a move at this stage.
- We remain keen to buy dips in US stocks.
MM is neutral toward the S&P500 ~6050
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