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US February PCE was higher than expected: How will the market react?
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The Daily: It's not another dot-com crash. BYD vs Tesla battle this week. PCE in focus

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Jessica Amir joined discussion · Mar 24 06:00
• US markets: Tesla, Ulta Beauty, Airbnb, Meta, Netflix, Warner Bros, Norwegian Cruise Lines lead gains suggesting investors aren’t overly concerned tariffs will lead to a recession
• Aussie markets: Commodity stocks to come under pressure as US dollar rises to 3-day high ahead of US inflation report. Gold, copper pull back to perhaps present buying opportunities.  
• Stocks to watch: BYD, Tesla. Gold ETFs such as GLD
US investors shake off tariff fears to 'buy the dip'
Technology, consumer discretionary, and consumer services stocks charged higher on Friday $Tesla (TSLA.US)$,   $Ulta Beauty (ULTA.US)$, $Airbnb (ABNB.US)$, $Meta Platforms (META.US)$, $Netflix (NFLX.US)$, $Warner Bros Discovery (WBD.US)$ and $ $Norwegian Cruise (NCLH.US)$ leading the gains. This suggests investors aren’t overly concerned that tariffs will trigger a recession.
The Daily: It's not another dot-com crash. BYD vs Tesla battle this week. PCE in focus
Meanwhile, traders are sensibly protecting their portfolios ahead of this week’s key US inflation data, the PCE report, which could show the Fed needs to keep interest rates on hold. This is why investors have been buying into the US dollar, pushing it to a three-day high and dragging down key commodity prices like aluminum, copper, gold, and silver. But remember, gold stocks and ETFs such as GLD $SPDR Gold ETF (GLD.US)$ are still up 15% this year, with the narrative for more long-term gold upside intact.
Australia's market pressured today by the rising US dollar. Some will buy the dip in gold
As above the higher US dollar will likely bring the the Australian share market $S&P/ASX 200 (.XJO.AU)$ under pressure today, with selling and profit-taking expected in key commodity stocks. For some, this may offer a buying opportunity.
Why this is different to dot-com bubble. And buying of stocks hits 2025 record
It’s also the 25-year anniversary of the dot-com bubble, which erased trillions in investments. But 2025’s pullback is vastly different. This year’s weakness stems from concerns about earnings growth slowing due to tariffs. Today’s tech giants are financially stable and profitable. Very different from the dot-com era, dominated by unprofitable startups. That’s why investors appear to be taking advantage of the pullback and buying equities. And stocks $S&P 500 Index (.SPX.US)$ and $NASDAQ 100 Index (.NDX.US)$ are holding up off their lows. Last week, global stock funds recorded US$43.4 billion in inflows. The largest this year. Reflecting bullish sentiment toward US and global equities.
All eyes are on the BYD vs. Tesla battle this week
All eyes are on the BYD $BYD COMPANY (01211.HK)$ vs. Tesla $Tesla (TSLA.US)$ battle this week and whether Tesla can maintain its 15% rally off its lows. Meanwhile, BYD shares are likely to continue exploring uncharted, record all-time high territory. BYD recently launched the world’s fastest-charging EV, charging in just 5 minutes with a 400 km range. It might be hot under Elon Musk’s collar if BYD reports US$100 billion in revenue when it releases its 2024 numbers. That would mean the Chinese EV giant. And one of Australia’s most popular EVs, could surpass Tesla’s sales for the first time since 2018.
Australian Budget and election watch
Pressure is mounting on the Australian government over how it plans to defend the nation’s trade balance after  Trump hit us with tariffs on steel and aluminum. While more tariffs could be coming, Australia’s response may be outlined in tomorrow’s budget. That said, the real D-Day may be on what Trump dubbed ‘Liberation Day,’ April 2, when he plans to announce more America First trade policies. Defending Australia’s position will no doubt be a key issue in the federal election campaign.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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Jessica Amir
Moomoo Official Market Strategist
moomoo, market strategist. Seen/heard on Fox News Business, ABC, SBS, Reuters wires. Investor/Trader.
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