Posted 2/29/2024, 10:47:36 AM
Markets Mixed as Small Caps Buck Trend; Bitcoin Surges While Investors Await Key Inflation Data
- Markets struggled to maintain momentum this week as AI stock rally took a break and indexes slipped lower
- Russell 2000 small-cap index was the only gainer, rising as investors sought bargains outside usual leaders
- Bitcoin surged 40%+ YTD, topping $60k for the first time since Nov 2021 on accelerating spot BTC ETF inflows
- Economic data was mixed - consumer confidence dropped further than expected but Q4 GDP was robust at 3.2%
- All eyes are on today’s PCE inflation report, which could impact timing of first Fed rate cut if disinflation trend has stalled