The S&P 500 has been trading in a significantly narrow range so far this year amid ongoing tariff uncertainty, but the index has returned to the levels it saw in late October after a "hibernation" period, note analysts at Bespoke Investment Group. In a Sunday note, the analysts said that at its closing high for the year, the S&P 500 was up 1.94% year-to-date, while at the low of the year, it was down 0.71%.