The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.02%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.09%. June E-mini S&P futures (ESM26) rose +0.04%, and June E-mini Nasdaq futures (NQM26) fell -0.10%.
Stock indexes settled mixed on Wednesday, with the Dow Jones Industrials posting a new record high and the Nasdaq 100 falling from a new all-time high. Enthusiasm for artificial intelligence, lower oil prices, and easing bond yields were supportive for the broader equity market on Wednesday. Crude oil prices fell by more than -5% amid optimism that oil flows from the Middle East will normalize soon, driven by a US-Iran peace deal. The decline in crude prices has eased inflation expectations and lowered bond yields, with the 10-year T-note yield falling to a 1.5-week low of 4.45% on Wednesday.
