LIVE MARKETS-S&P 500 scores record highs, but resistance line looms

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

S&P 500 SCORES RECORD HIGHS, BUT RESISTANCE LINE LOOMS

The S&P 500 index .SPX has scored its first record closing high of 2025. On Thursday, after a 30-trading day drought, the benchmark index set fresh record highs with a 6,118.71 finish and a 6,118.73 intraday peak.

The SPX has now advanced 4% so far this month, which has it on track for its biggest post-presidential election January gain since 2013.

That said, the SPX now faces a significant hurdle in the form of a long-term resistance line from its 1929 high, which on a monthly basis, resides around 6,125 in January:

This line capped strength in December, and is only around 0.1% above Thursday's close.

In the event this line is ultimately cleared, 10x the 2009 trough level, which was at 666.79, is 6,667.90. A resistance parallel derived off of the support line from the 2009 low will be around 6,675 this month.

(Terence Gabriel)

*****

FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:

BON VOYAGE TO BIG OIL BUYBACKS IN 2025? - CLICK HERE

CONSUMER SECTOR SHOWING SIGNS OF LIFE IN EUROPE'S EARLY EARNINGS - CLICK HERE

STOXX 600 AT RECORD AS BURBERRY SALES BOOST LUXURY - CLICK HERE

EUROPE BEFORE THE BELL: SHARES SET TO RISE ON TRUMP'S TARIFF STANCE - CLICK HERE

TRUMP GOES EASY ON CHINA IN HIS FIRST WEEK - CLICK HERE