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Weekly Market Update · 02.27.24

Tech Boosts Equities, Fed’s Preferred Inflation Measure May Decline

Nvidia’s earnings last week beat expectations, igniting a stock rally. The U.S. Core Personal Consumption Expenditures Price Index may fall slightly.
  • Markets & Economy
  • Economic Insights & Trends
  • Federal Reserve
  • Market Views
Key Points
What it is
We review how key events from last week affected markets and highlight what could impact markets this week.
Why it matters
Nvidia, which surged last week on strong earnings, is among the large tech‑related companies that have lifted the U.S. stocks over the past year.
Where it's going
The core Personal Consumption Expenditures Price Index may provide insight on the Fed’s rate plans this year.
Main Point

Some Signs of Improvement

With about 90% of U.S. fourth-quarter earnings reported by S&P 500 Index companies, earnings and sales have exceeded estimates. U.S. manufacturing showed signs of improvement, though services disappointed. Europe services beat expectations and now sit right on the dividing line between expansion and contraction, but Europe manufacturing lost further ground.

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