Monday Market Green Like the Irish, But for How Long: Live Stock News

Kevin Travers joined discussion · Mar 17 22:55

Monday Market Green Like the Irish, But for How Long: Live Stock News

The market is looking green for St. Patties Day! But will it stay that way this week? Happy Monday, investors, it's March 17th, and the day started with a climbing market- I missed the worst day for the Nasdaq since '22, and the Dow's worst week for two years. Will the climb today hold out? Let's look at the Live Stock News and try to look for signs.

$Intel (INTC.US)$ climbed 7%, the highest on the Nasdaq 100 and S&P 500, after the firm's incoming CEO Lip-Bu Tan said the firm was going to overhaul its chip manufacturing and AI strategy. Reuters reported that Tan said the firm would transition to manufacturing chips for clients like Nvidia instead of just in-house Intel chips.

It was not all rosy news for tech, the Nasdaq 100 began to fall past 10:30, led by a drop in $Tesla (TSLA.US)$ and $Strategy (MSTR.US)$. Tesla fell after a Friday rebound still came in lower for the week, marking two months of weekly declines.

Strategy fell while the Bitcoin run slowed, dropping to pre-election prices.

This week, investors are looking forward to some earnings from retailers $Nike (NKE.US)$ and bellwether $FedEx (FDX.US)$.

The big news comes in the form of macroeconomic data this week. Monday, Retail Sales figures for the month of February came in higher than last month's decline, but still low enough to lead to worry about U.S. growth, according to Wall Street Journal. The U.S. Census Bureau also revised January sales to a contraction of 1.2%.

The biggest news that the market awaits comes Wednesday: the FOMC monetary policy meeting and likely rate decision. With contracting growth numbers reflected in Atalanta's GDP predictions,, and a new prediction coming the day before, the FOMC will have to decide if higher rates are affecting the economy in a negative way.

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Within industry themes tracked by moomoo,

Elsewhere in the economy, $Crude Oil Futures(JUN5) (CLmain.US)$ climbed to $67, though sat at low prices not seen since December. Gold maintained a climb, up near its historic $3,000 mark the commodity broke on Friday. $Bitcoin (BTC.CC)$ hovered at $83k.

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Just past 12 noon ET the $S&P 500 Index (.SPX.US)$ traded +0.12%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.45%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.42%.

Despite the fall in equities in the past weeks, the CME FedWatch Futures tool shows markets are still pricing in no rate cut for the upcoming meeting.

Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$

Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!

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