
The S&P 500 Index ($SPX) (SPY) today is up +0.01%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.02%.
Stock indexes today are mixed in today's afternoon trade. Earlier this morning, the S&P 500 and Nasdaq 100 posted new all-time highs as easing US price pressures knocked T-note yields lower and bolstered the chances of Fed interest rate cuts this year. Today’s economic news showed the US May core PCE deflator, the Fed’s preferred inflation gauge, eased +2.6% y/y from +2.8% y/y in April, right on expectations and the slowest pace of increase in 3 years. Strength in chip stocks today is also bouying the overall market.