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Wall Street Today | Market Rebounds, All Eyes on CPI

Moomoo Recap US wrote a column · Mar 27 15:04
Wall Street Today | Market Rebounds, All Eyes on CPI
Markets  climbed back after a chilly two-day downturn, but sectors like semiconductors stayed lower.
Shortly after close on preliminay figures, the $S&P 500 Index(.SPX.US)$ climbed 0.33% Wednesday. The $Dow Jones Industrial Average(.DJI.US)$ grew by 0.73%, and the $Nasdaq Composite Index(.IXIC.US)$ traded -0.01%.
The market eagerly awaits the CPI and PCE reports to show how consumer and producer prices felt the forces of inflation in February. With the FOMC holding firm, committee members have said it will take a clear sign that inflation is on the way down before rates follow. Fed's Waller speaks today at 6 PM.
Semiconductors Led Declines.
Source: moomoo
Source: moomoo
The entire group was down about 1.7% as tracked by moomoo, with favorite names like $Marvell Technology , and $Intel in the green while $Astera Labs pulled back 4% after a public listing climb.
According to moomoo, the 'Solar' sector of the stock market was one of the top performing Wednesday. $SunPower(SPWR.US)$ climbed 14%, on little news. $Sunrun(RUN.US)$  climbed 15% while the stock was set to move from the S&P Midcap to the S&P Smallcap index.
$Sunnova Energy International(NOVA.US)$ climbed 9%, after an 8% climb Tuesday when the company annouced a partnership with Home Depot.
Trump's Wealth Surges as DJT Stock Rises Again
$Trump Media & Technology(DJT.US)$ shares surged 14% to $66.19 in Wednesday afternoon trading. The company's stock market debut under the DJT ticker followed its merger with special-purpose acquisition company Digital World Acquisition Corp.
Coibase Lost Out To SEC, Securities Decision to See Jury Trial
$Coinbase(COIN.US)$ Global lost the first round of a battle with the Securities and Exchange Commission that could determine not just the crypto trading platform's future but that of the industry generally.
GameStop DIssapoints on Holiday Earnings
$GameStop(GME.US)$ on Tuesday reported fiscal Q4 adjusted EPS of $0.22 per diluted share, up from $0.16 a year earlier. Two analysts surveyed by Capital IQ expected $0.30.
Carnival Posts Record Expectations for '24 Cruise Demand
Shares of $Carnival(CCL.US)$ dropped Wednesday after the cruise operator reported a narrower-than-expected fiscal first-quarter loss but also provided an estimate for what the collapse of the Francis Scott Key Bridge in Baltimore would cost it this year. The price action changed direction midday.
Reddit Finally Pulls Back
$Reddit(RDDT.US)$ fell more than 9% after doubling in share price from the initial listing of $31/share when the firm traded publically last week. Prices Peaked at $71/share before falling back 10% Wednesday to $58.
Mooers: What do you think, how do you feel about the Market? What's the word from the Herd?
Source: Bloomberg, Dow Jones, CNBC, Reuters
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