The S&P 500 Index ($SPX) (SPY) this morning is down -0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.82%.
Stocks this morning are moderately lower, with the Nasdaq 100 falling to a 1-1/2 week low. Inflation concerns undercut T-note prices, pushed yields higher, and weighed on stocks as the 10-year T-note yield climbed to a 2-week high after today’s economic news showed the US Feb import price index ex-petroleum unexpectedly increased. That added to this week’s disappointing CPI and PPI reports, bolstering expectations for the Fed to delay interest rate cuts further.
