Stock Indexes
S&P 500
The benchmark US large-cap equity index and the reference point for global risk appetite.
S&P 500 chart
- Proxy
- Index CFD
- Intraday · may be delayed
- FOREXCOM:SPXUSD
This chart uses FOREX.com's SPXUSD CFD as a proxy for the S&P 500 index. The CFD trades nearly around the clock and its price can differ from the official index level published by S&P Dow Jones Indices.
About the S&P 500
The S&P 500 tracks roughly 500 of the largest US-listed companies, weighted by float-adjusted market capitalization. It is maintained by S&P Dow Jones Indices and is the most widely used gauge of the US equity market.
Because it is cap-weighted, the largest constituents (in recent years, mega-cap technology and communication-services names) can account for a large share of the index's daily move. A flat index can hide wide dispersion underneath.
Most active trading happens in derivatives rather than the index itself: E-mini (ES) and Micro E-mini (MES) futures on CME, SPX options on Cboe, and ETFs such as SPY, IVV and VOO.
What moves S&P 500
Common drivers. None of them determine price on their own.
- Earnings and guidance
- Index level ultimately reflects expected corporate profits. Earnings season and guidance from the largest constituents can shift the whole index.
- Interest rates and the Fed
- Higher real yields raise the discount rate applied to future earnings. Fed decisions, CPI and payrolls often move SPX through their effect on rate expectations.
- Growth data
- Payrolls, ISM surveys, retail sales and GDP shape views on the economic cycle and therefore on earnings.
- Concentration
- A handful of mega-cap stocks carry a large weight, so their news can dominate index direction on a given day.
- Volatility and positioning
- Options hedging flows and volatility-targeting strategies can amplify or dampen moves, especially around large expirations.
S&P 500 trading hours
Regular schedules in US Eastern time unless noted. Holidays and early closes are not shown.
| Venue | Hours | Note |
|---|---|---|
| NYSE / Nasdaq cash session | Mon–Fri 9:30 a.m. – 4:00 p.m. ET | Official index calculation |
| E-mini S&P 500 futures (CME Globex) | Sun–Fri 6:00 p.m. – 5:00 p.m. ET (daily 5:00–6:00 p.m. ET maintenance break) | — |
| US pre-market / after-hours (stocks & ETFs) | Approx. 4:00–9:30 a.m. and 4:00–8:00 p.m. ET | Varies by venue and broker |
Economic events that matter for S&P 500
Why each release can move this market. Reactions depend on the surprise versus expectations and on the backdrop.
| Event | Why it can matter for S&P 500 |
|---|---|
| FOMC Next: | Changes in the expected path of interest rates affect discount rates, financial conditions and growth expectations, all of which can move equity valuations. The 2:30 p.m. ET press conference can reverse the initial reaction to the statement. |
| CPI Next: | Inflation surprises matter for stocks mainly through rates: a hot print can lift yields and pressure valuations, a cool one can ease them. With CPI at 8:30 a.m. ET, the first reaction shows up in index futures and CFDs before the cash open. |
| NFP Next: | Equities weigh what a jobs report says about growth and earnings against what it implies for Fed policy. Which side dominates depends on whether the market is more worried about inflation or about a slowdown at the time. |
| Unemployment Next: | A rising unemployment rate is one of the clearer recession warnings — a half-point rise in its 3-month average from the prior year's low (the Sahm rule) has historically come early in recessions — so equity investors watch it for earnings risk. |
| Retail Sales Next: | Consumer spending is about two-thirds of US GDP, so retail sales — especially the control group — informs revenue expectations for the consumer-facing companies that make up a large share of the index. |
S&P 500 FAQ
What are S&P 500 futures trading hours?
E-mini S&P 500 (ES) and Micro E-mini (MES) futures trade on CME Globex from Sunday 6:00 p.m. to Friday 5:00 p.m. ET, with a one-hour maintenance break each weekday from 5:00 to 6:00 p.m. ET. The cash index is only calculated during the 9:30 a.m.–4:00 p.m. ET stock market session.
What is the difference between SPX, ES and SPY?
SPX is the S&P 500 index itself and cannot be traded directly. ES is the CME E-mini futures contract on the index, worth $50 times the index level. SPY is an exchange-traded fund that holds the index constituents and trades like a stock.
Why does the S&P 500 react to CPI and Fed decisions?
Inflation data and Fed decisions change expectations for interest rates, and rates affect both borrowing costs and the value investors place on future earnings. The direction of the reaction depends on how the data compares with expectations and on the broader context, so there is no fixed rule.
Is the chart on this page the official S&P 500 price?
No. The embedded TradingView chart uses a CFD that tracks the index so it can update outside US cash hours. It can differ slightly from the official SPX value published by S&P Dow Jones Indices.