Daily Stock Market Update

Daily Stock Market Update

Share this post

Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Friday February 16, 2024

Stock Market Update Friday February 16, 2024

Tom's avatar
Tom
Feb 17, 2024
∙ Paid
5

Share this post

Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Friday February 16, 2024
2
Share

Stock Market Update Friday February 16, 2024 This morning's macroeconomic events featured housing-related data, showing weakness, and various versions of the Producer Price Index (PPI), all indicating higher-than-expected inflationary pressures. This collective outcome reflects a scenario of stagflation, the economic condition characterized by stagnant growth coupled with rising prices. I believe we have been and will continue to be in this environment, albeit with somewhat moderated growth.

The release of the data had a mild impact on equity prices, with the Nasdaq showing a decline of about 0.5% through midday, while the Dow and S&P remained relatively unchanged. Today's session coincides with another significant option expiration, suggesting that the price movements are unlikely to be strongly influenced by underlying fundamentals, a trend that has persisted for some time. In the afternoon, the market witnessed a sell-off, led by the Nasdaq.

Daily Stock Market Update is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Keep reading with a 7-day free trial

Subscribe to Daily Stock Market Update to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 AlgoTradeAlert.com
Publisher Terms
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share