Hot Inflation Data Plays Trick on Major Benchmarks

The PPI reading for February dinged stocks

Digital Content Manager
Mar 14, 2024 at 4:27 PM
facebook X logo linkedin

The producer price index (PPI) reading for February pulled the rug out from under Wall Street today, after doubling analysts' expectations. Treasury yields moved sharply higher as hopes of interest rate cuts went down the drain and the major indexes all spiraled into red territory. The Dow snapped its three-day win streak, the Nasdaq marked a steep loss of its own, and the S&P 500 distanced itself from record highs, all while the Cboe Volatility Index (VIX) recorded its best day since Feb. 20.

Continue reading for more on today's market, including:

  • Signal suggests huge upside for uranium stock.
  • Blocked buyout dings United States Steel stock.
  • Plus, how money management plays into options trading; behind this retail stock's plummet; and Dick's Sporting Goods' blowout report.

Closing Indexes Summary March 14

NYSE and Nasdaq Stats March 14

5 Things to Know Today

    1. Marlboro parent Altria Group (MO) will sell 35 million shares of Anheuser-Busch InBev (BUD) to buy back its own stock. (MarketWatch)
    2. Former Treasury Secretary Steven Mnuchin is putting together an investor group that could buy TikTok. (CNBC
    3. Money management can aid your options trading strategy.
    4. The return of its founder did not bode well for this retail stock.
    5. Dick's Sporting Goods notched post-earnings record highs.

    Corporate Earnings March 14

    Unusual Options Activity March 14

    Oil Prices Surge on Growth, Supply Forecast

    Oil prices hit their highest level since November, after the International Energy Agency (IEA) raised its oil demand growth forecast for 2024 and slashed its supply outlook for countries that do not belong to the Organization of the Petroleum Exporting Countries (OPEC). April-dated West Texas Intermediate (WTI) added $1.54 cents, or 1.9%, to finish at $81.26 per barrel.

    Hotter-than-expected inflation data, rising Treasury yields, and a stronger greenback all contributed to lower gold prices. April-dated gold dropped $13.30, or 0.6%, to settle at $2,167.50 per ounce.


    Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

    This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

    On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

    Start targeting gains like the ones our subscribers have seen recently, including:

    213.3% GAIN on AutoNation calls
    100.0% GAIN on Monster Beverage calls
    100.4% GAIN on Walgreens Boots Alliance puts
    100.4% GAIN on ON Semiconductor calls
    257.7% GAIN on Dell calls

    101.0% GAIN on Apollo Global Management calls
    103.6% GAIN on JP Morgan  Chase calls
    105.3% GAIN on DraftKings calls
    101.3% GAIN on Airbnb calls
    203.0% GAIN on Shopify calls
    102.0% GAIN on Cboe Global Markets calls
    100.9% GAIN on Boeing calls
    102.1% GAIN on Microsoft puts
    102.3% GAIN on First Solar calls
    101.5% GAIN on PulteGroup calls
    101.0% GAIN on Apple calls
    209.4% GAIN on NXP Semiconductors calls
    100.8% GAIN on Uber Technologies calls
    100.4% GAIN on Academy Sports and Outdoors puts
    102.2% GAIN on Trade Desk calls
    100.8% GAIN on DoorDash calls
    100.0% GAIN on Camping World Holdings puts
    100.0% GAIN on Cboe Global Markets calls
    100.2% GAIN on calls
    238.5% GAIN on Oracle calls



    Rainmaker Ads CGI