The S&P 500 Index ($SPX) (SPY) this morning is up +0.25%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.28%.
US stock indexes this morning are moderately higher, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 posting new record highs. Stocks are climbing on speculation the Fed will be able to cut interest rates this year. Stocks and bonds found support after weekly initial unemployment claims fell less than expected, a dovish factor for Fed policy. Other weaker-than-expected economic reports included housing starts and manufacturing production. Gains in stocks are limited by a rise in bond yields on signs of persistent price pressures after the Apr import price index ex-petroleum rose by the most in 16 months.
