Posted 3/12/2024, 6:42:00 PM
Inflation Rises More Than Expected; Markets Up Despite Boeing and Bitcoin Pullbacks
- February consumer price index rose more than expected on monthly and annual basis, supporting case for Fed to hold off on rate cuts until possibly June
- Major indexes off day's highs but held solid gains Tuesday; Nasdaq gets a boost from Nvidia as its lockup period expires
- Oracle stock surges on earnings beat; Boeing sinks on Southwest Airlines' reduced outlook tied to fewer 737 Max deliveries
- Inflation hedges pull back as gold shares ETF slides under recent buy point and bitcoin falls from overnight highs
- Dutch Bros coffee breaks out past cup base; GigaCloud bounces back over 14% ahead of earnings but On Holding sinks on surprise loss