The S&P 500 Index ($SPX) (SPY) is up by +0.09% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.52%. December E-mini S&P futures (ESZ26) are up +0.05%, and December E-mini Nasdaq futures (NQZ26) are up +0.46%.
Stock indexes have added to Monday’s gains today, with the S&P 500 posting a 5-week high and the Nasdaq 100 posting a 3.5-month high. Weaker crude oil prices today are easing inflation risks, lowering bond yields, and boosting market sentiment. WTI crude oil is down more than -2% today at a 3-week low after Japan’s Kyodo News Agency reported that Iran has proposed to reopen the Strait of Hormuz within seven days if the US blockade is lifted. President Trump will address the United Nations General Assembly in New York later today. The 10-year T-note yield is down -3 bp to 4.93% on the weakness in crude prices.
