From Nasdaq: 2024-03-28 13:07:03

The S&P 500 and Nasdaq 100 are mixed while Dow Jones is slightly down. Favorable Q4 GDP and PCE data provides support to stocks, but hawkish comments from the Fed limit gains. Weekly unemployment claims fall unexpectedly, but the Chicago PMI disappoints. Overseas markets are also mixed, with the Euro Stoxx 50 hitting a 23-year high.

Interest rates are up slightly after strong US economic reports and comments from Fed Governor Waller. T-notes recover after disappointing PMI and inflation expectations. European bond yields show mixed movement. Germany’s retail sales fall, but unemployment ticks up only slightly, signaling a resilient labor market.

Estee Lauder, RH, and Omnicom Group lead gainers in the S&P 500, while Carnival and Molina Healthcare are down. Wayfair, Snowflake, and Walgreens Boots Alliance also see positive movement. Earnings reports from MSC Industrial Direct Inc and Walgreens Boots Alliance are scheduled for today. Apple and Meta Platforms are among the losers on the Dow Jones Industrials.



Read more at Nasdaq: Stocks Pressured by Hawkish Statement by a Fed Official