S&P 500 and Nasdaq 100 Post Record Highs on Fed Easing Expectations

The S&P 500 Index ($SPX) (SPY) today is up +0.52%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.60%.  September E-mini S&P futures (ESU25) are up +0.51%, and September E-mini Nasdaq futures (NQU25) are up +0.59%. 

Stock indexes are climbing today, with the S&P 500 and Nasdaq 100 posting new all-time highs.  Falling bond yields are supportive for stocks ahead of the Tue/Wed FOMC meeting, when the Fed is expected to cut interest rates by 25 bp.  The 10-year T-note yield is down -3 bp to 4.03%.  Also, Tesla is up more than +5% to lead megacap technology stocks higher after Elon Musk bought nearly $1 billion in stock.