Sunday night trading opened with a modest pullback after nine consecutive up days in the S&P 500. Analysts discussed how this rally could be a temporary squeeze in what may still be a broader market correction, noting that institutional investors may be chasing returns after missing the recent 10% rally off lows.

Key market concerns centered on Wednesday's Federal Reserve meeting, where Chairman Powell is unlikely to signal June rate cuts, potentially pressuring equities. The dollar's continued weakness suggests global capital flows are shifting away from U.S. markets, with European investors now keeping funds local instead of directing them to American equities.

Oil prices dropped significantly after OPEC+ announced production increases, while bonds and gold maintained recent price levels despite the equity rally, indicating continued economic uncertainty.