The S&P 500 Index ($SPX) (SPY) this morning is up +0.88%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.15%.
Stock indexes this morning are moderately higher on optimism that strength in the US economy will continue to fuel consumer spending and corporate profits. Stocks are climbing even after today’s stronger-than-expected US payroll report increases the chances of higher interest rates for longer. An easing of wage pressures is also supportive for stocks after US March average hourly earnings eased to +4.1% y/y, the smallest pace of increase in 2-3/4 years.
