The S&P 500 Index ($SPX) (SPY) today is up +0.78%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.75%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.24%. June E-mini S&P futures (ESM26) are up +0.70%, and June E-mini Nasdaq futures (NQM26) are up +1.15%.
Stock indexes are moving higher today, recovering some of this week’s losses, amid lower bond yields and strength in semiconductor stocks. The 10-year T-note yield is down -5 bp to 4.62%, falling back from Tuesday’s 16-month high as inflation expectations retreat amid a decline in WTI crude oil prices of more than -3%. The weakness in crude oil today is also lifting airline stocks and cruise line operators. However, the weakness in software stocks is limiting gains in the broader market.
