The S&P 500 Index ($SPX) (SPY) today is down -0.50%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.63%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.32%. March E-mini S&P futures (ESH25) are down by -0.48%, and March E-mini Nasdaq futures (NQH25) are down by -0.28%.
Stock indexes are retreating today, with the S&P 500 and Dow Jones Industrials falling to 1-week lows. Stocks are under pressure today after bond yields surged when US Jan consumer prices rose more than expected. Today’s stronger-than-expected Jan CPI report dampens the outlook for the Fed to cut interest rates and bolsters expectations for the Fed to keep rates on hold for the foreseeable future. US stock indexes recovered from their worst levels on carryover support from a rally in European stocks to a 24-year high.
