It was a mixed morning on Wall Street, with major U.S. indexes posting gains mainly due to outperformance in tech stocks, but losses in bonds, gold and gold. Bitcoin Following stronger-than-expected inflation reports.
The S&P 500 index rose 0.9%, and the tech-heavy Nasdaq 100 index rose 0.9%. In the technology sector, chipmakers shined. VanEck Semiconductor ETF (NASDAQ:SMH) up 2%.
The Consumer Price Index (CPI) rose 3.2% in February compared to the same month last year, exceeding both the previous rate of increase and the expected 3.1% increase. Additionally, the core CPI index, which excludes volatile food and energy items, unexpectedly rose by 3.8%, compared to the expected 3.7%.
U.S. Treasury yields rose, with the policy-sensitive two-year yield rising six basis points to 4.6% and the 10-year yield rising seven basis points to 4.17%.
According to CME Group's FedWatch tool, the market is holding firm on expectations for a June rate cut, assuming a 70% chance.
The Fed is scheduled to hold a two-day policy meeting within a week, where policymakers are expected to present a new macroeconomic outlook and clarify their preferred interest rate path.
Tuesday's performance of major US indexes and ETFs
| Major indices and ETFs | price | % |
| Nasdaq 100 | 18,139.35 | 1.0% |
| S&P500 | 5,162.83 | 0.9% |
| dow jones | 38,936.96 | 0.4% |
| russell 2000 | 2,056.13 | -0.5% |
of SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.8% to $515.04. SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.4% to $389.95, the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rose 1% to $441.69, according to data from Benzinga Pro.
By sector, technology Sector Selection SPDR Fund (NYSE:XLK) was the top performer, rising 1.4%. Utilities Select Sector SPDR Fund (NYSE:XLU) followed suit, down 0.7%.
tuesday stock mover
- oracle company (NASDAQ:ORCL) rose more than 12% after the company reported better-than-expected quarterly results.
- Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSMC) rose more than 3% after the company won more than $5 billion in subsidies from the U.S. Department of Commerce for chip production.
- southwest airlines (NYSE:LUV) fell 15% after announcing a sharp decline. boeing The number of 737-8 aircraft delivered will increase from the previously expected 79 aircraft to 46 in 2024.
- Other stocks rose in line with profits. Asana Co., Ltd. (NYSE:ASAN) (down about 11%), Vail Resorts Co., Ltd. (NYSE:MTN) (up 1.5%), Archer Daniels Midland Company (NYSE:ADM) (up 4.5%), International Game Technology PLC (NYSE:IGT) (down more than 6%) and kohls corporation (NYSE:KSS) (down more than 5%).
Read now: Inflation expectations exceeded in February – 'I think Powell will be upset': 7 economists react
Wall Street illustration created using AI via MidJourney.
