SP Funds S&P 500 Sharia Industry Exclusions ETF Price & Performance (SPUS)

SPUS, the ETF tracking Sharia-compliant S&P 500 companies, is testing critical resistance at $42.4. Technical signals suggest shorting near this level with a downside target of $42.03. However, breaking above this resistance could trigger a buy opportunity with an upside target of $43.11. Traders should watch for volatility around these thresholds.1

The U.S. technology sector is experiencing a strong rally, driven by optimism around artificial intelligence applications. Major companies are reporting increased investments in AI-driven solutions, boosting investor confidence. This surge is lifting the Nasdaq index to new highs, reflecting broader market enthusiasm for innovation-led growth.

European markets showed mixed performance as investors assessed recent developments in the banking sector. Regulatory measures and earnings reports from major banks have created uncertainty, leading to cautious trading. Analysts suggest that upcoming economic data could provide clarity on the region’s financial stability.