The S&P 500 Index ($SPX) (SPY) Monday closed up +0.26%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.39%.
Stock indexes on Monday recovered from early losses and posted mild gains. The S&P 500 and Nasdaq 100 consolidated below last Friday’s record highs. Higher bond yields Monday limited gains in the overall market as the 10-year T-note yield climbed to a 1-week high on negative carryover from last Friday’s stronger-than-expected May payroll and hourly earnings reports, which were hawkish factors for Fed policy. On the positive side, energy stocks moved higher Monday as the price of WTI crude rallied more than +2% to a 1-week high.
