The S&P 500 Index ($SPX) (SPY) today is up +0.83%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.93%. September E-mini S&P futures (ESU25) are up +0.38%, and September E-mini Nasdaq futures (NQU25) are up +0.87%.
Stocks are trading higher on today’s weak US payroll report, which solidified market expectations for at least two Fed rate cuts by year-end. However, the unemployment report also suggested slower US economic growth, which would be negative for US corporate earnings.
