From Nasdaq, Inc.:

The S&P 500, Dow Jones, and Nasdaq are all up today, with gains ranging from 0.22% to 0.42%. Stocks are trading higher following the U.S. CPI report, which showed core CPI at a 2-3/4 year low. Despite a rise in the 10-year T-note yield, stocks are holding onto mild gains.

The Feb U.S. CPI report met market expectations, with a +3.2% y/y figure slightly exceeding expectations. The core CPI year-on-year figure of +3.8% y/y was higher than expected but a 2-3/4 year low. These results indicate that a rate cut at the upcoming FOMC meeting is unlikely.

Overseas markets are mixed today, with the Euro Stoxx 50 up +0.44% and China’s Shanghai Composite down -0.41%. Interest Rates for June 10-year T-notes are down, with the 10-year T-note yield at 4.141%. European bond yields are also mixed today, with the German bund yield up and the UK gilt yield down.

Megacap tech stocks like Microsoft, Meta, and Alphabet are leading the Nasdaq 100 today, while Tesla and Apple are down. Oracle surged +10% after strong earnings, and ADM is up +5% post internal probe results. Boeing is down more than -3% due to a probe into a flight incident, while Southwest Airlines is down over -11% due to Boeing 737 Max issues.

Nvidia is up about +1% today, breaking a 2-day losing streak, supported by Oracle’s positive news regarding its cloud business. Bitcoin is slightly lower today after a 6-day gain streak, while Coinbase is steady after Monday’s loss. Marathon Digital is down, adding to Monday’s losses. Earnings reports today include Kohl’s and Archer-Daniels-Midland.



Read more at Nasdaq, Inc.: Stocks Are Mildly Higher as Core CPI Slips to 2-3/4 Year Low