The S&P 500 Index ($SPX) (SPY) today is up +0.80%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.63%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.32%.
Stocks are climbing today on signs that the economy continues to expand after the US Q2 GDP was revised higher due to an upward revision of consumer spending, showing that the economy is holding up despite high interest rates. Also, price pressures eased as the Q2 core PCE price index was revised lower. The upward revision to spending with the downward revision to inflation builds the case for a soft landing and is bullish for stocks.
