Summary Of the Markets Today:
- The Dow closed down 138 points or 0.35%,
- Nasdaq closed down 0.30%,
- S&P 500 closed down 0.29%,
- Gold $2,167 down $13.50,
- WTI crude oil settled at $81 up $1.40,
- 10-year U.S. Treasury 4.292% up 0.100 points,
- USD index $103.31 up $0.520,
- Bitcoin $69,710 down $3,4841 (4.75%), New Historic high 73,798.25
*Stock data, cryptocurrency, and commodity prices at the market closing.
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Advance estimates of U.S. retail and food services sales for February 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were up 1.5% above February 2023 according to the US Census tables. However, using the St Louis Fed’s FRED database, retail sales are up 5.5% year-over-year in February 2024. Take your pick 🙂
In the week ending March 9, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 208,000, a decrease of 500 from the previous week’s revised average. The previous week’s average was revised down by 3,750 from 212,250 to 208,500.
The Producer Price Index for final demand (PPI) advanced 1.6% for the 12 months ended in February 2024, the largest rise since moving up 1.8 percent for the 12 months ended September 2023. The rise in the PPI can be traced to oil prices.
Here is a summary of headlines we are reading today:
- Brent Soars Past $85 As IEA Recalculates Supply, Demand
- Gold Prices Soar Past $2,150 After Bullish Rally
- Fourth Russian Lukoil Exec Found Dead by Apparent Suicide
- U.S. Drivers Warned to Brace For Jump in Gasoline Prices
- The U.S. Is Betting Big on Small Nuclear Reactors
- Dow closes more than 100 points lower, snaps 3-day win streak after hot inflation report: Live updates
- This week provided a reminder that inflation isn’t going away anytime soon
- Bitcoin and ether fall as investors press pause on rally: CNBC Crypto World
- ‘Bad News’ Is Bad News For Stocks, Bonds, Crypto, & Gold
- How Overpaid Are State And Local Government Workers Compared To Private
- Long-term Treasury yields jump by most in a month after hot producer-price report
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.