The S&P 500 Index ($SPX) (SPY) today is up +0.11%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.20%. September E-mini S&P futures (ESU25) are up +0.15%, and September E-mini Nasdaq futures (NQU25) are up +0.26%.
Stock indexes are mildly higher today, extending Monday’s rally. Gains in technology stocks are boosting the overall market higher, led by an +8% jump in Palantir Technologies after it reported stronger-than-expected profits and raised its full-year forecasts. Stocks have continued support from speculation that last Friday’s dismal payroll and ISM manufacturing reports will prompt the Fed to cut interest rates. The chances of a Fed rate cut at the September FOMC meeting rose to 92% from 40% before the reports were released.
