The S&P 500 Index ($SPX) (SPY) today is down -0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.48%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.75%. March E-mini S&P futures (ESH25) are down by -0.57%, and March E-mini Nasdaq futures (NQH25) are down by -0.87%.
Stock indexes today gave up early gains and turned lower after the University of Michigan US Feb consumer sentiment index unexpectedly fell to a 7-month low and the University of Michigan US Feb inflation expectations unexpectedly increased. Also, higher bond yields today are weighing on stocks. Bond yields rose today after the US Jan unemployment rate unexpectedly fell to an 8-month low and Jan average hourly earnings rose more than expected, hawkish factors for Fed policy. The higher bond yields are dragging chip stocks and homebuilders lower.
