According to @StockMKTNewz, the S&P 500 just closed above 6,600 for the first time ever, marking a fresh all-time high close for the index (source: @StockMKTNewz on X). Historically, equity breakouts have coincided with stronger risk appetite, with BTC’s rolling correlation to U.S. equities often in the 0.2–0.5 range during 2023–2024, which traders watch for crypto beta exposure (source: Kaiko Research 2023–2024). Crypto traders should monitor BTC and ETH reactions around U.S. market hours when equity-led sentiment shifts tend to transmit to digital assets via macro risk channels (source: Kaiko Research 2023–2024).

According to Eric Balchunas, SPY is rallying again following strong April jobs growth, marking a potential ninth consecutive day of gains and a cumulative 15% rise since Black Monday on April 7th (source: Eric Balchunas on Twitter, May 2, 2025). This sustained uptrend signals strong bullish sentiment in the S&P 500 ETF, with traders watching closely for a breakout continuation and monitoring key resistance levels. The positive correlation between economic data and equity performance reinforces risk-on appetite among market participants.