HomeMarket NewsSmall CapsMarket Jitters: PPI Data Dips, Dow Stumbles Over 100 Points

Market Jitters: PPI Data Dips, Dow Stumbles Over 100 Points

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The Slippery Slope of Investor Sentiment

The CNN Money Fear and Greed index has wavered, showing a decrease in overall market sentiment. Despite remaining in the β€œGreed” zone, investor optimism saw a sharp decline on Thursday.

Market Woes: PPI Data and Stock Reactions

Thursday witnessed U.S. stocks closing lower post the unveiling of February Producer Price Index (PPI) data. The PPI for final demand in the U.S. surged by 0.6% month over month, surpassing market expectations of a 0.3% increase.

Meanwhile, other data releases showcased a notable rise of 0.6% in U.S. retail sales month-over-month in February compared to a revised 1.1% dip in January and down from a predicted 0.8% surge. Additionally, U.S. initial jobless claims diminished by 1,000 to 209,000 in the week ending March 8, as opposed to market estimates of 218,000.

Stock Market Oscillations

Shares of Robinhood Markets, Inc. HOOD leaped over 5% on Thursday post the company’s announcement of February’s operating data. Simultaneously, shares of Dick’s Sporting Goods Inc DKS skyrocketed by 15% following the company’s impressive fourth-quarter results and robust guidance.

Sectoral Stories: Winners and Losers

While most sectors on the S&P 500 faced a dreary close with real estate, consumer staples, and utilities stocks recording significant losses, energy, and communication services stocks stood out by closing the session on a buoyant note.

Dow’s Disappointing Dip

The Dow Jones ended Thursday’s trading session on a sour note, plummeting by about 138 points to 38,905.66. In sync, the S&P 500 saw a decline of 0.29% at 5,150.48, while the Nasdaq Composite dipped 0.30% to 16,128.53 during the trading session.

Earnings Anticipation

Investors are keeping a close eye on earnings results from The Buckle, Inc. BKE, Jabil Inc. JBL, and Hibbett, Inc. HIBB today.

The Greedy Greed Index

The Fear & Greed Index lingered at 72.6 on Thursday, residing in the β€œGreed” zone despite a slight dip from the previous reading of 74.3.

Your Guide to Fear & Greed

What is CNN Business Fear & Greed Index?

The Fear & Greed Index acts as a barometer for current market sentiment, with high fear driving down stock prices and excessive greed boosting them up. The index is derived from seven equally weighted indicators and ranges from 0 to 100, with 0 signaling extreme fear and 100 representing excessive greed.

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