Around 71% of S&P 500 stocks have climbed above their 200-day moving averages, the highest level in two years, according to a CNBC analysis. This proportion suggests investors are diversifying beyond AI-linked megacaps and chipmakers. The S&P 500 has not set a new high since June 2, held back by geopolitical uncertainty around Iran, volatile oil prices, a hawkish Federal Reserve, and a sharp sell-off in semiconductor shares. Among the stocks that recently crossed this technical threshold is PayPal, whose payment volume reached $486.4 billion and which is the subject of a $53.4 billion takeover offer from Stripe and Advent International.
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