The S&P 500 Index ($SPX) (SPY) today is up +0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.70%. September E-mini S&P futures (ESU25) are up +0.23%, and September E-mini Nasdaq futures (NQU25) are up +0.58%.
Stock indexes are moving higher today, with the S&P 500 and Nasdaq 100 posting new record highs. The prospects for additional Fed easing are lifting stocks today on speculation the Fed will tilt toward supporting the labor market, despite inflation risks. Bond yields rose on Wednesday, and stocks turned mixed despite the Fed cutting interest rates by 25 bp and signaling another 50 bp of rate cuts by year’s end due to hawkish comments from Fed Chair Powell, who highlighted the risk of persistent inflation and signaled less support for deeper easing of Fed policy.
