The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.38%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.24%. June E-mini S&P futures (ESM25) are up +0.32%, and June E-mini Nasdaq futures (NQM25) are up +0.19%.
Stock indexes on Thursday recovered from losses and moved higher as the US jobless claim and PPI reports were Fed-friendly, which knocked bond yields lower and boosted the prospects for Fed rate cuts. The 10-year T-note yield on Thursday fell -6 bp to 4.36%. Stocks and bonds maintained their gains Thursday afternoon as decent demand for the Treasury’s $22 billion auction of 30-year T-bonds curbed fears that mounting deficits would cause investors to shun US debt securities.
