S&P 500 Closes Above 7,400 After 70-Point Intraday Swing

The S&P 500 posted a 70+ point reversal on May 12, 2026, nearly turning green on the day before closing above 7,400. The index swung more than 70 points from its intraday low to finish in positive territory. It closed above 7,400 on 2026-05-12 after the late-session recovery.

@KobeissiLetter reported that the S&P 500 posted a 70+ point reversal, nearly turns green on the day, and closes above 7,400. The move reflected sharp buying interest in the final hours of trading that lifted the benchmark from negative territory. The reversal took the index to a closing level not seen in recent sessions.

Market participants tracked the move as the S&P 500 approached and then surpassed the 7,400 threshold. By the final bell the index had erased its earlier losses. The close above 7,400 capped a session defined by rapid intraday swings.