The S&P 500 is a stock market index that tracks the performance of 500 large companies listed on U.S. stock exchanges. The index is designed to provide a snapshot of the overall health and performance of the U.S. stock market. The S&P 500 is one of the most widely followed equity indices and is considered a barometer of the U.S. stock market and the broader economy. It's important to note that while the S&P 500 is a useful tool for evaluating the overall performance of the U.S. stock market, it is not without its limitations. For example, the index is heavily weighted toward a relatively small number of large companies, so the performance of those companies can have an outsized impact on the index's overall performance. Additionally, the S&P 500 only includes U.S.-listed companies, so it may not be an accurate representation of the global economy.