Stocks Finish Higher on Easing Price Pressures and Chip Stock Strength

The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.72%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.64%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.58%.  June E-mini S&P futures (ESM25) are up +0.64%, and June E-mini Nasdaq futures (NQM25) are up +1.48%. 

Stock indexes on Tuesday recovered from early losses and added to Monday’s sharp rally, with the S&P 500 posting a 2-1/4 month high and the Nasdaq 100 posting a 2-1/2 month high.  Easing inflation pressures boosted stocks after Tuesday’s US Apr consumer price report rose less than expected.  Stocks also had carryover support from Monday when China and the US agreed to cut tariffs and de-escalate their trade war.