The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.65%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.08%. June E-mini S&P futures (ESM25) are up +0.48%, and June E-mini Nasdaq futures (NQM25) are up +0.09%.
Stock indexes on Thursday settled higher, with the S&P 500 posting a 2-1/4 month high and the Nasdaq 100 posting a 2-1/2 month high. The broader found support Thursday on hopes for Fed rate cuts as T-note yield fell on a weaker-than-expected US Apr PPI report and the largest decline in six months for Apr manufacturing production. Stocks also found support on US economic news that showed weekly initial unemployment claims were unchanged, and April retail sales rose more than expected, easing recession concerns.
