The S&P 500 Index ($SPX) (SPY) is up by +0.86% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.47%. E-mini S&P futures (ESU26) are up +0.85%, and September E-mini Nasdaq futures (NQU26) are up +1.43%.
Stock indexes are moving higher today as falling oil prices ease inflation concerns and knock bond yields lower. WTI crude is down more than -1% on signs that supply disruptions in the Middle East are set to ease, bolstering hopes that inflation can be kept under control. The 10-year T-note yield is down -6 bp to 4.95%. T-note yields are also falling after the Fed’s +25 bp rate hike on Wednesday reassured investors that the Fed is determined to tame inflation.
