Stock Market Update Tuesday March 12, 2024

Stock Market Update Tuesday March 12, 2024 Stocks surged once again despite the release of February’s CPI data which came in at 0.4 couple of variations of it were a tick worse than expected, That immediately produced a lot of volatility in various markets in both directions before trading settled down. As far as the stock market is concerned, the early weakness was shaken off with the S&P 500 and Nasdaq 100 now boasting year-to-date gains of 9.3% and 10.1%, respectively.

Away From Stocks: Treasury yields also climbed, rising by five to seven basis points across the curve, following an afternoon 10-year note auction that priced slightly weaker than expected. Meanwhile, WTI crude held steady near $78 a barrel, gold retreated to $2,157 per ounce, bitcoin slipped below $71,000, and the VIX dipped below 14, marking a decline of a point and change for the day.