Markets Pull Back on Consumer Spending Concerns

Thursday, March 14th, 2024Directly following the release of this morning’s Producer Price Index (PPI), Retail Sales and Weekly Jobless Claims, all four major indices climbed higher, even though it was pretty clear we weren’t going to see any interest rate cuts for at least 13 weeks (the June 11-12 FOMC meeting), but within minutes of the opening bell, they had all dropped into negative territory. Up from session lows a half-hour before the close, the Dow finished -0.35%, the S&P 500 -0.29%, the Nasdaq -0.30 ...