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Barchart
Barchart
Rich Asplund

Stocks Supported by Chip Stock Strength and Lower Bond Yields

The S&P 500 Index ($SPX) (SPY) Monday closed up +0.14%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.50%.  September E-mini S&P futures (ESU25) rose +0.19%, and September E-mini Nasdaq futures (NQU25) rose +0.54%.

Stock indexes mainly settled higher on Monday, with the S&P 500 and Nasdaq 100 posting new all-time highs.  Stocks found support as the 10-year T-note yield fell by -5 bp to a one-week low of 4.37%. Also, the strength in chip stocks on Monday boosted technology stocks and led the broader market higher.  On the negative side, natural gas producers retreated Monday after nat-gas futures fell more than -6% to a 1-week low.

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