Stock Market Update Monday March 11, 2024
Stock Market Update Monday March 11, 2024 The market encountered some downward pressure through midday, with both the Nasdaq and S&P shedding approximately 0.5%. However, in the early afternoon, the market showed resilience, nearly returning to unchanged levels. Tomorrow’s February CPI data (economists expect a 0.4% sequential advance for the ex-food and energy metric to bring year-over-year growth to 3.7%). The Nasdaq 100 settled 40 basis points south of unchanged. This week includes another notable option expiration, likely adding to market volatility.
Away From Stocks: Two-year yields rose to 4.51% from 4.48% with the long end of the curve finishing little changed, while WTI crude marked time at $78 a barrel and gold likewise held at $2,181 per ounce to digest its eight-session winning streak. The VIX rose towards the upper end of its year-to-date range north of 15.
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