The S&P 500 remains cautiously bullish as U.S. yields hold steady despite a fresh round of tariffs and sanctions between Washington and Beijing. The U.S. imposed duties on key Chinese imports including timber, furniture, batteries, EVs, and medical gear, while China responded with retaliatory tariffs and targeted sanctions on U.S. subsidiaries of third-country firms. Both sides accuse the other of violating prior truces. Treasury Secretary Bessent met Chinese officials during IMF and World Bank meetings to contain fallout ahead of the late-October Trump–Xi APEC summit, which may prove pivotal in setting the tone for trade relations. The U.S. is also weighing price floors on critical minerals and advanced tech imports as part of a new trade defense strategy.
Key Levels: Support at 6,598.0 | Resistance at 6,745.1
Investor Takeaway: RSI at 58 trending upward with flat MACD selling pressures; markets cautiously optimistic as diplomatic channels remain open despite tariff escalation.