The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.51%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.67%.
Stock indexes on Wednesday posted moderate gains as bond yields fell after the ADP employment report showed companies hired fewer than expected workers in February, a dovish factor for Fed policy. Stocks maintained their gains, and bond yields fell further after Fed Chair Powell said it would likely be appropriate to begin cutting interest rates “at some point this year,” although they’re not there yet.
