The S&P 500 Index ($SPX) (SPY) today is up +0.92%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.97%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.66%. Dec E-mini S&P futures (ESZ24) are up +0.74%, and Dec E-mini Nasdaq futures (NQZ24) are up +0.40%.
Stock indexes today are moderately higher, recovering some of Wednesday’s sharp sell off. Stocks sold off Wednesday after the FOMC signaled only 50 bp of rate cuts next year, down from 100 bp of rate cuts projected in September. Signs that the US economy still has positive momentum are supportive for stocks after Q3 GDP was unexpectedly revised upward.
