Stocks Recover as Chipmakers Rebound

The S&P 500 Index ($SPX) (SPY) today is up +0.18%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.23%.  March E-mini S&P futures (ESH26) are up +0.16%, and March E-mini Nasdaq futures (NQH26) are up +0.19%.

Stock indexes recovered from early losses today and are moving higher. A rebound in chip makers is lifting the broader market, led by a +10% jump in Applied Materials after reporting stronger-than-expected Q1 adjusted EPS.  Also, falling bond yields are supporting stocks today after US January consumer prices rose less than expected, which may prompt the Fed to keep cutting interest rates.  The 10-year T-note yield fell to a 2.25-month low of 4.05% on the news.