The S&P 500 Index ($SPX) (SPY) this morning is +0.86%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.65%.
US stock indexes this morning are moderately higher, with the S&P 500 and Nasdaq 100 posting 2-1/2 week highs and the Dow Jones Industrials posting a 3-1/2 week high. A +6% jump in Apple today is lending support to the overall market and has sparked optimism about the earnings power of big technology companies. Stocks added to their gains as bond yields fell after this morning’s weaker-than-expected US Apr nonfarm payrolls report bolstered confidence that the Fed will be able to start cutting interest rates this year.
