The S&P 500 Index ($SPX) (SPY) this morning is up +0.98%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.64%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.30%.
Stock indexes this morning are sharply higher, with the S&P 500 posting a new record high. Stocks are climbing on speculation the Fed and ECB will start cutting interest rates as soon as June. Fed Chair Powell said today that interest rate reductions “can and will begin” this year, and ECB President Lagarde said the ECB may be in a position to ease policy in June. Stocks also found support in today’s Fed-friendly U.S. productivity and trade deficit reports.
