Stocks Climb on Lower U.S. and European Bond Yields

The S&P 500 Index ($SPX) (SPY) this morning is up +0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.46%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.61%.

Stock indexes this morning are seeing support from a decline in the 10-year T-note yield to a 1-month low. T-note yields fell on carryover support from a rally in European government bonds after the ECB kept interest rates unchanged, as expected, but cut its Eurozone 2024 GDP and inflation forecasts.  Stocks remained higher as bond yields fell further after today’s U.S. productivity and trade deficit reports.