The S&P 500 Index ($SPX) (SPY) today is up +1.06%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.47%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.63%. June E-mini S&P futures (ESM25) are up +1.22%, and June E-mini Nasdaq futures (NQM25) are up +1.75%.
Stock indexes today are trading higher. Strength in megacap technology stocks and chip makers are boosting the broader market after Texas Instruments and Lam Research reported better-than-expected earnings results. Signs of a stable US labor market also support stocks after weekly initial unemployment claims rose as expected, and weekly continuing claims fell to a 10-week low. In addition, lower T-note yields are positive for stocks, with the 10-year T-note yield down -5.1 bp to 4.330% after Cleveland Fed President Hammack said the Fed could cut rates in June if it has clear, convincing data and after Fed Governor Waller said he would support Fed rate cuts if tariffs led to job losses.
