US Stocks Surge as US PCE Data Matches Expectations

Thursday, 29 February 2024, 14:36

The release of the US core and headline PCE data met expectations, leading to a positive response in the market. Lower yields have contributed to the rise in US stock indices at the opening bell. Key market highlights include gains in major indices and notable performances from companies like Nvidia and Alphabet, offset by declines in Snowflake shares.
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US Stocks Surge as US PCE Data Matches Expectations

US PCE Data Release Analysis

The US core and headline PCE data matched expectations, providing stability to the market. Lower yields following the release supported a rally in US stock indices.

Market Snapshot

  • Dow Industrial Average: +118 points (+0.31%) at 39,069
  • S&P Index: +25 points (+0.50%) at 5,095
  • NASDAQ: +130 points (+0.82%) at 16,078.69

Market Winners and Losers

Winners: Nvidia, Celsius, Alphabet, AMD, Intel, Broadcom, Arm Holding, Coinbase.
Losers: Snowflake.

US Debt Market Overview

  • 2-Year Yield: 4.647% (Unchanged)
  • 5-Year Yield: 4.265% (-0.7 basis points)
  • 10-Year Yield: 4.256% (-1.8 basis points)
  • 30-Year Yield: 4.386% (-2.3 basis points)

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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