The S&P 500 Index ($SPX) (SPY) this morning is up +0.45%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.27%.
Stock indexes this morning are moderately higher, with the S&P 500 and Nasdaq 100 posting new record highs. Stocks are climbing today as bond yields tumbled after the U.S. Feb unemployment report bolstered expectations for the Fed to begin cutting interest rates in June. Although Feb nonfarm payrolls rose more than expected, Jan payrolls were revised sharply lower, and the Feb unemployment rate unexpectedly rose to a 2-year high. Also, Feb hourly earnings fell slightly and eased wage pressure concerns.
