
The S&P 500 Index ($SPX) (SPY) today is down -0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.10%. March E-mini S&P futures (ESH26) are down -0.08%, and March E-mini Nasdaq futures (NQH26) are up +0.13%.
Stock indexes gave up an early advance today and turned mixed, led by a selloff in software companies. Also, today’s stronger-than-expected US Jan payrolls report pushed bond yields higher and dampened expectations for additional Fed interest rate cuts, weighing on stocks. The 10-year T-note yield is up +3 bp to 4.17%, and the chance of a Fed rate cut at next month’s FOMC meeting fell to 8% from 23% before today’s payroll report.