Stocks Trade Sideways. S&P 500 Can't Break Through 7000.

Core Viewpoint - The S&P 500 is facing a significant resistance level at 7000, unable to break through this threshold despite initial gains following a strong nonfarm payrolls report [1] Market Performance - The S&P 500 increased by 0.1% after reaching a high of 6993.48 shortly after market opening [1] - The Dow Jones Industrial Average decreased by 30 points, or 0.1%, nearing 50,499.04 [1] - The Nasdaq Composite experienced a slight decline [1] Economic Data Impact - Stocks initially rallied due to a stronger-than-expected nonfarm payrolls report, indicating that initial market reactions to economic data can be volatile [1]