SPX Needs 6000 to Stabilize, Eyes on Oil & Yields

Schwab Network

Stocks are trying to find their footing after this weekend's escalation in Iran. Kevin Green says the S&P 500 (SPX) needs to hold above 6000 to avoid more selling. He's watching for volatility as investors gauge any developments out of Iran, and adds that a break below 5950 could trigger more selling. KG believes crude oil faces headwinds breaking above $80 without a prolonged conflict or supply disruption. Meanwhile, he's monitoring the 10-year yield hovering near 4.3% and suggests a move lower could signal further weakness in rates.

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