S&P 500 down 0.10% — Market Pulse · Jun 24, 2026

U.S. stocks ended June 24 with a split tape. The Dow Jones Industrial Average rose 182.06 points, or 0.35%, to 51848.9, and the Russell 2000 added 0.37% to 2986.63. The S&P 500 slipped 7.24 points, or 0.1%, to 7358.22, while the Nasdaq Composite fell 110.41 points, or 0.43%, to 25476.63.

Key Takeaways

• S&P 500 closed down 0.10% at 7,358.22.
• Market breadth finished with 320 advancers, 178 decliners, and a 1.798 advance/decline ratio.
• Industrials led sectors at +1.18%, while Energy lagged at -1.69%.
• VIX ended at 18.69 in the latest five-session lookback.
• SPY’s first resistance is 738.05 and first support is 730.75.

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Market Breadth: Mixed close, stronger breadth, and calmer volatility after tech-led selling

Metric	Jun 17	Jun 18	Jun 22	Jun 23	Jun 24
Advance/Decline Ratio	0.171	1.110	1.151	1.321	1.798
Advances	73	263	267	284	320
Declines	427	237	232	215	178
Advancing Volume	18.4%	58.1%	49.0%	44.7%	42.7%
Stocks Near 52-Week Highs	5	5	25	20	19
Stocks Near 52-Week Lows	24	12	17	9	4
% Above 20-Day MA	51.8%	51.0%	51.9%	54.5%	60.1%
% Above 50-Day MA	54.8%	56.0%	55.5%	59.9%	63.9%
% Above 200-Day MA	61.6%	61.0%	60.3%	61.7%	63.7%

Under the surface, participation improved. Advancers beat decliners 321 to 178, an advance-decline ratio of 1.803, and 19 stocks were near 52-week highs versus 4 near lows. Roughly 59.48% of stocks sat above their 20-day moving average, 62.08% above the 50-day, and 61.88% above the 200-day. That said, advancing volume was only 42.72%, so price breadth was better than volume breadth.

Explore the full dashboard: Market breadth.

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Market Performance: Major Indexes

Index	Close	Change	% Change
S&P 500	7,358.22	-7.24	-0.10%
Dow Jones Industrial Average	51,848.90	182.06	+0.35%
Nasdaq Composite	25,476.63	-110.41	-0.43%
Russell 2000	2,986.63	11.15	+0.37%

Five-session context:

Index	Jun 17	Jun 18	Jun 22	Jun 23	Jun 24
S&P 500	-1.21%	+1.08%	-0.37%	-1.44%	-0.10%
Dow Jones Industrial Average	-0.98%	+0.14%	+0.29%	-0.09%	+0.35%
Nasdaq Composite	-1.34%	+1.91%	-1.32%	-2.21%	-0.43%
Russell 2000	-0.72%	+2.12%	+0.83%	-0.96%	+0.37%

The session looked steadier than June 23, when the S&P 500 fell 1.44% and the Nasdaq dropped 2.21%. Still, the five-session view shows pressure remains, especially in growth. Over the last five listed sessions, the S&P 500 fell from 7420.1 to 7358.22 and the Nasdaq moved from 26021.66 to 25476.63, while the Dow held up better and the Russell 2000 stayed near 3000.

Explore the full dashboard: Market snapshot.

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Sector View: Leaders and Laggards

• Leaders: Industrials (XLI +1.18%), Consumer Discretionary (XLY +1.15%), Utilities (XLU +1.09%), Consumer Staples (XLP +0.86%), Health Care (XLV +0.77%)
• Laggards: Energy (XLE -1.69%), Communication Services (XLC -0.68%), Technology (XLK -0.58%), Financials (XLF -0.30%), Real Estate (XLRE -0.29%)

Leadership rotated away from energy and parts of growth. Industrials led with XLI up 1.18%, followed by Consumer Discretionary at 1.15% and Utilities at 1.09%. Consumer Staples rose 0.86% and Health Care gained 0.77%. On the weak side, Energy fell 1.69%, Communication Services lost 0.68%, and Technology slipped 0.58%.

Explore the full dashboard: Sector performance.

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Volatility: VIX and ETF Implied Volatility

Metric	Jun 17	Jun 18	Jun 22	Jun 23	Jun 24
VIX Level	18.44	16.40	17.28	19.49	18.69

• SPY IV: 16.89% (Normal)
• QQQ IV: 30.40% (Elevated)
• IWM IV: 23.00% (Normal)
• DIA IV: 15.53% (Normal)

Volatility cooled, but it did not vanish. The VIX closed at 18.67, down from 19.49 on June 23, after jumping 12.79% the prior session. Options pricing still showed a gap across index products: SPY implied volatility averaged 16.89%, IWM 23.00%, DIA 15.53%, and QQQ remained elevated at 30.40%.

Explore the full dashboard: Volatility.

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Headlines Moving Markets

One major policy headline came from the Federal Reserve, which said its annual bank stress test confirmed large banks are well positioned to weather a severe recession and continue lending. In macro data, the BEA reported the U.S. current-account deficit widened by $5.8 billion, or 2.6%, to $226.8 billion in the first quarter, equal to 2.9% of GDP. Treasury Secretary Bessent also said U.S. GDP growth could return to 3% before year-end, though another CNBC report noted Kalshi traders saw little chance of that outcome.

• Federal Reserve Board’s annual bank stress test confirms that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses
• Treasury Secretary Bessent says U.S. GDP growth can return to 3% before end of the year
• Bessent sees GDP growth booming again this year. Kalshi traders see little chance of that
• JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress test
• Identity theft victims face ‘unconscionable’ IRS delays, report says
• Rubio says U.S. won’t do anything that would undermine Gulf security - Reuters
• U.S. International Transactions and Investment Position, 1st Quarter 2026 and Annual Update
• U.S. International Trade in Goods and Services, April 2026
• GDP (Second Estimate) and Corporate Profits, 1st Quarter 2026
• Personal Income and Outlays, April 2026
• Personal Income and Outlays, January 2026
• Personal Income and Outlays, December 2025

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Technical Snapshot (SPY)

Level	Jun 17	Jun 18	Jun 22	Jun 23	Jun 24
20-day SMA	744.51	744.87	745.24	745.41	744.91
50-day SMA	724.70	726.33	727.78	729.10	730.22
200-day SMA	683.37	683.87	684.44	684.98	685.44

Near-term pivot structure, based on 2026-06-23:

• Resistance: 738.05 (R1), then 742.47 (R2)
• Pivot: 735.17
• Support: 730.75 (S1), then 727.87 (S2)

For SPY, the key pivot reference is 735.17, with traditional resistance at 738.05 and 742.47, and support at 730.75 and 727.87. The Fibonacci map shows resistance at 737.96 and 739.68, with support at 732.38 and 730.66. Trend-wise, SPY’s 20-day simple moving average is 744.91, above the 50-day at 730.22 and the 200-day at 685.44. That leaves the short-term average as the nearby ceiling, while the 50-day remains an important lower trend marker.

Explore the full dashboard: Support & Resistance levels.

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What to Watch Next

• Whether the Nasdaq Composite can stabilize after another 0.43% decline and a five-session slide from 26021.66 to 25476.63.
• Breadth quality. Advancers led 321 to 178, but advancing volume was only 42.72%.
• SPY around the 735.17 pivot, then 738.05 above and 730.75 below.
• QQQ implied volatility at 30.40%, still elevated versus SPY at 16.89%.
• Sector rotation: can XLI at +1.18% and XLU at +1.09% keep leading while XLK stays soft at -0.58%?
• Bank-related follow-through after the Fed stress test and the later announcements tied to JPMorgan Chase buybacks and Goldman Sachs dividend action.

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Bottom Line

June 24 brought a more balanced session than the prior day, with stronger breadth and a lower VIX helping offset continued softness in the S&P 500 and Nasdaq. The tape improved beneath the surface, but weak advancing volume, elevated QQQ implied volatility, and renewed lagging in technology suggest the rebound in participation still needs firmer confirmation.

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Market Pulse provides daily analysis of S&P 500 market breadth, sector rotation, and volatility signals to help investors understand what’s happening beneath the surface. Data sourced from our real-time market breadth collectors. For personalized planning, explore our retirement calculators, investment tools, and FIRE planning resources.

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