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Hourly Market Recap

AInvestMonday, Mar 11, 2024 11:00 am ET
1min read

Wall Street's major market averages started the trading week lower, with the Nasdaq Composite down by 0.3%, the S&P 500 down by 0.2%, and the Dow down by 0.1%, as Treasury yields ticked higher ahead of the highly anticipated CPI report on Tuesday. Eight out of eleven S&P sectors traded in negative territory, with Materials being the best performer, while Industrials and Health Care were the weakest; meanwhile, the U.S. 2 Year Treasury yield rose by 4 basis points to 4.52%, and the U.S. 10 Year Treasury yield increased by 2 basis points to 4.10%.

Notable declines were seen in technology stocks, with Super Micro Computer dropping 7% and Nvidia experiencing a day of choppy trading. Meta, the parent company of Facebook, also saw a significant tumble, dropping more than 4%. Similarly, pharmaceutical giant Eli Lilly saw a decline of over 4%. These losses come as investors anticipate the release of February's consumer price index (CPI) data, which is expected to show a 0.4% month-over-month increase and a 3.1% annualized increase. The core CPI, excluding volatile food and energy prices, is expected to rise by 0.3% for the month and 3.7% for the year.


Movers of the hour:

The L.S. Starrett is up 58.71% at $15.74.  

Solidion Technology is up 40.62% at $1.09.  

Mesoblast is up 31.62% at $2.83.  

Kingsoft Cloud is up 29.37% at $3.48.  

Ballys is up 24.39% at $13.21.  

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.