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Barchart
Barchart
Rich Asplund

Stocks Supported by Lower Bond Yields and Speculation of Earlier Rate Cuts

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The S&P 500 Index ($SPX) (SPY) today is up +0.62%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.58%.  September E-mini S&P futures (ESU25) are up +0.55%, and September E-mini Nasdaq futures (NQU25) are up +0.57%. 

Stock indexes are climbing, with the S&P 500 posting a 4-month high, the Dow Jones Industrials climbing to a 3-3/4 month high, and the Nasdaq 100 posting a new all-time high.  Strength in chip makers is boosting the broader market today after Micron Technology reported stronger-than-expected Q3 EPS and gave an upbeat forecast for the current quarter, driven by demand for artificial intelligence equipment.  Stocks also saw support from today's news of a larger-than-expected drop in weekly initial jobless claims, a larger-than-expected increase in May core capital goods orders, and stronger-than-expected May pending home sales.

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