US equities add $1 trillion in value as S&P 500 settles at 7,600

A roughly $1T single-day increase in US equity market value and an S&P 500 close at 7,600 signals broad risk-on positioning, improving wealth effects and easing financial conditions. The move can tighten equity risk premia and support cyclical and momentum exposure near term, while raising sensitivity to rates and macro surprises given elevated index levels and concentrated index leadership.