The S&P 500 Index ($SPX) (SPY) today is down -0.04%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.22%.
Stock indexes today are mixed, with the Dow Jones Industrials posting a 7-week high and the S&P 500 falling back from a new record high. Stocks found support on today’s Fed-friendly US Jun CPI report that knocked bond yields lower and reinforced speculation the Fed will be able to cut interest rates this year. However, gains in stocks were limited after US weekly initial unemployment claims fell to a 6-week low, a sign of strength in the labor market that is hawkish for Fed policy.
