S&P 500+0.63%▲: advanced, with strength centered in Utilities and Energy. Nasdaq+0.58%▲: climbed, paced by gains in Technology. Russell 2000+0.86%▲: outperformed, extending recent small‑cap leadership. Dow+0.83%▲: rose on broad gains across major components. VIX-0.84%▼: declined, showing softer implied volatility. Crypto: BTC+0.70%▲ and ETH+0.80%▲ traded modestly higher, at about $76,606 and $2,116 respectively. What's driving the market this week The transition in Fed leadership as Kevin Warsh was confirmed and is set to be sworn in this week has refocused attention on the central bank’s balance‑sheet plans and policy priorities. A senior Fed official’s remarks about removing an “easing bias” from policy language broadened debate that rate increases remain a possible future path, keeping policy uncertainty in play. Renewed attention to small‑cap setups and retail activity has coincided with the Russell 2000’s advance, contributing to relative strength outside mega‑cap tech.