Stock indexes recovered some losses in the final half-hour of trading on Thursday after surprises in wholesale price gains and weakened retail sales. Nvidia and Super Micro Computer both saw decreases in the stock market, despite bullish analysis on both AI leaders. A Cathie Wood holding experienced a significant increase in value.
Bitcoin and gold prices dropped as Treasury yields increased, while the Federal Reserve’s meeting and interest rate decision are scheduled for Wednesday. The Dow Jones Industrial Average declined by nearly 0.4% on Thursday, with the S&P 500 and Nasdaq also falling by 0.3%. The Russell 2000 experienced a larger loss of 2.4%.
Economic data showed that the producer price index rose more than expected in February, while initial jobless claims fell. Retail sales also showed improvement from the previous month. Most sectors in the S&P 500 were down, although communications services and energy sectors rose.
On the Dow Jones index, only seven stocks saw gains on Thursday, while other stocks like Nvidia and Super Micro saw decreases. The Federal Reserve’s rate decision is expected on Wednesday, with odds favoring unchanged rates in March.
Earnings reports affected stocks in sectors like homebuilding and software, with some stocks near buy points. Neurocrine Biosciences, Royal Caribbean, and Dexcom are all close to potential buy points. Overall, the stock market experienced mixed results on Thursday.
