The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.47%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.84%. September E-mini S&P futures (ESU25) rose +0.43%, and September E-mini Nasdaq futures (NQU25) rose +0.80%.
Stock indexes rallied on Monday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Falling bond yields are supportive for stocks ahead of the Tue/Wed FOMC meeting, when the Fed is expected to cut interest rates by 25 bp. The 10-year T-note yield fell -2 bp to 4.04%. Also, megacap technology stocks and chip makers moved higher on Monday to provide support to the overall market.
