Stock Market Update Tuesday February 27, 2024

Stock Market Update Tuesday February 27, 2024 A quiet session saw the indices slightly mixed. In the afternoon, stocks levitated by some 20 basis points on the S&P 500 and Nasdaq 100, gaining a little ground but never advancing far. With the markets being so quiet this week it is waiting for macro data this week. Our cycle work analysis indicates that a sell-off is expected in the month of March, extending into April.

Away From Stocks: long-dated Treasury's came under some pressure with 30-year yields rising four basis points to 4.44%. WTI crude logged a fresh post-November high near $79 a barrel, gold finished little changed at $2,031 per ounce and the VIX hovered below 14.