Stocks Push Higher on Lower Crude Prices and Bond Yields

The S&P 500, Dow Jones and Nasdaq 100 all climbed higher on Monday as falling oil prices and lower bond yields dampened inflation fears. WTI crude slipped more than 1% on indications Middle East supply disruptions were easing, lifting hopes inflation could be contained. The 10-year Treasury yield slipped 6 basis points to 4.95% after Wednesday's 25 basis point Fed rate hike strengthened confidence the central bank would curb inflation.

While US economic data showed some mixed signals - weekly jobless claims fell to an 8-week low of 196,000, while housing starts and building permits fell short of estimates - the labor market looked stronger than expected. The Philadelphia Fed business outlook survey dipped more than expected, yet the US dollar and overseas stocks remained mixed following the market rally.