The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.15%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.13%. June E-mini S&P futures (ESM25) are up +0.19%, and June E-mini Nasdaq futures (NQM25) are up +0.21%.
Stock indexes recovered from early losses on Wednesday and settled slightly higher. Stocks found support from Wednesday’s news that showed the Fed’s preferred inflation gauge, the US Mar core PCE price index, rose at the slowest pace in 9 months. Also, March personal spending rose more than expected, and March pending home sales posted their biggest increase in 15 months. In addition, late-day short covering lifted stock indexes into positive territory ahead of earnings results from Microsoft and Meta Platforms after Wednesday’s close.
