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Barchart
Barchart
Rich Asplund

Stocks Supported by Fed Rate Cut Speculation and Strength in Chip Makers

The S&P 500 Index ($SPX) (SPY) today is up +0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.04%.  September E-mini S&P futures (ESU25) are up +0.04%, and September E-mini Nasdaq futures (NQU25) are up +0.05%.

Stock indexes today are slightly higher, with the Nasdaq 100 posting a new all-time high as dovish Fed comments pushed T-note yields lower.  The 10-year T-note yield is down -1 bp to 4.27% after Fed Governor Michelle Bowman said she supports an interest rate cut at the September FOMC meeting and that she favors three interest rate cuts this year. 

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