Sp500 futures chart as per the S&P 500 futures chart

As per the S&P 500 futures chart, energy sector strength is helping keep the index buoyant, with crude oil prices near short-term highs. Commodity-linked gains may add fuel to equity moves. The batch of softer-than-expected economic data prompted some market participants to reassess their expectations for interest-rate cuts this year. Fed-funds futures traders are now pricing in a growing likelihood of a Federal Reserve rate cut in September — with a 25-basis-point reduction now seen as having a 91% probability, in a sharp rise from last week, according to the CME FedWatch Tool . Compared to ETFs, futures offer pure price exposure to the underlying and are designed to tightly track the underlying index. ETFs have funding costs and fees that can affect the price as well as replication differences leading to tracking errors. The S&P 500 futures chart shows a modest pullback to 5,170, possibly a healthy pause before the next leg higher. Active traders are watching key moving averages as dynamic support zones.