The S&P 500 Index ($SPX) (SPY) Monday closed up +0.08%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.12%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.19%.
US stocks on Monday finished mostly higher. The broader market gained Monday and extended last Friday’s rally on expectations for a Fed rate cut in September after the Jun personal consumption expenditures price index, the Fed’s preferred inflation gauge, eased as expected. Monday's strength in chip stocks also boosted the overall market after ON Semiconductor reported better-than-expected Q2 EPS. In addition, lower T-note yields on Monday supported stocks as the 10-year T-note yield fell to a 1-1/2 week low of 4.149%.
