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.
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