Markets in a Minute - Ides of March

Insights | Markets in a Minute - Ides of March

Author: Zac Martin, Investment Associate

Week Ending March 15th

Market Returns 3.18.24
  • Core CPI had a positive surprise by 0.1 and headline CPI reaccelerated to 3.2% year-over-year v. 3.1% in January’s report.
  • PPI also saw a strong surprise of 0.5, reaccelerating to a 1.6% change year-over-year.
  • This surprise has led the probability of an interest rate cut in June to 59%, down from last month’s probability of 76%.
  • Initial Jobless Claims came in less then expected and decelerated to 209k. Continuing Claims were also below expectations but increased to 1.811M.
  • Retail sales for February were reported lighter than expected, only increasing 0.6% month-over-month.

The week ahead:

  • Nvidia’s GTC Ai conference (3/18).
  • Housing Starts and Building Permits (3/19).
  • FOMC Fed Funds Target Rate – most anticipated event this week (3/20 @ 2pm).
  • Followed by several earnings reports: GIS, MU (3/20), DRI, ACN, FDX, NKE (3/21). S&P Flash PMIs (3/21).

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