The S&P 500 Index ($SPX) (SPY) today is up +0.30%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.49%.
Stocks today are moderately higher, with the Nasdaq 100 posting a new record high. Today’s mixed US Nov payrolls report supported stocks as the report boosted expectations for the Fed to cut interest rates later this month to 87% from 70% before the report. Nov nonfarm payrolls rose more than expected, and Oct payrolls were revised upward, but the Nov unemployment rate unexpectedly increased. The mixed payroll report knocked T-note yields lower and supported stocks as the 10-year T-note yield fell to a 1-1/2 month low.
