The S&P 500 Index ($SPX) (SPY) today is up +0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.06%. March E-mini S&P futures (ESH25) are up by +0.58%, and March E-mini Nasdaq futures (NQH25) are up by +1.06%.
Stock indexes today are climbing, with the Nasdaq 100 posting a 2-1/2 week high. Stocks found support after bond yields fell as today’s Jan PPI report bodes well for the inflation outlook and the upcoming PCE price index report. Stocks and bonds rallied today as several components of the PPI report that feed into the Fed’s preferred inflation measure, the personal consumption expenditures price index (PCE), were more favorable in January as healthcare items and airfares declined. The decline in bond yields also sparked a rally in chip stocks to boost the overall market.
