Stocks may stay range-bound without concrete tariff developments: nationwide


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About 70% of S&P 500 stocks are above their 50-day moving averages, while more than half have reclaimed their 200-day moving averages, according to Mark Hackett, chief market strategist


at Nationwide. "In essence, the technical indicators imply a convincing uptrend juxtaposed against institutional investors that continue to question the legitimacy of the current market


rally," Hackett wrote in an email. He added: "While the worst-case tariff scenario appears to have been averted, equity markets may remain range-bound without concrete tariff


developments. For a sustainable upward movement, the technical backdrop must transition to stronger fundamentals," necessitating improved earnings or lower interest rates.