Posted 3/14/2024, 3:45:35 PM
Stocks Decline as Wholesale Inflation Spikes; Jobless Claims Edge Lower
- Stock indexes gave up premarket gains as wholesale prices rose more than expected in February, raising inflation concerns.
- Nvidia and Super Micro Computer received price target upgrades from analysts, but shares fell. Cathie Wood's Robinhood holding surged.
- Jobless claims fell slightly less than expected. Retail sales rose 0.6% in February after a drop in January.
- Microsoft and Apple rose on the Dow, while Disney, Verizon, and Intel declined. Nvidia fell despite the analyst upgrade.
- Homebuilder Lennar and software stocks UiPath and SentinelOne fell following earnings reports and outlooks. Neurocrine Biosciences, Royal Caribbean, and Dexcom are stocks nearing potential buy points.