S&P 500 (SPY) Report – 03/13/23

Good morning traders!

The S&P 500 ($SPY) is trading below Friday’s close. Let’s get into it…

U.S. stock futures are trading lower this morning ahead of the opening bell, after stocks suffer from their worst week since October last week. Fears of rising inflation and higher interest rates, as well as concerns over the pace of the economic recovery have weighed heavily on markets.

Bond yields fell on Monday, with the yield on the benchmark 10-year U.S. Treasury note dipping to 3.56% and the two-year yield dropping to 4.1% on the front end of the yield curve. Lower bond yields can indicate a flight to safety by investors, as they seek to protect their portfolios from market volatility.

Investors will be paying close attention to two key economic prints this week as the next Federal Reserve meeting rapidly approaches. Tuesday’s Consumer Price Index (CPI) is expected to show inflation rising 6% over the last year on a headline basis, while on a “core” basis, the call is for 5.5%. Meanwhile, February’s retail sales report will roll out on Wednesday morning, with the reading weighing in on the Fed’s next policy move.

Note: Moving averages are reported from the previous trading session and will change during the next trading session. 

Monday Economic Events:
No Important Economic Data Scheduled

Fed Speaker Scheduled:
No Fed Speakers Scheduled


DailyBubble’s Disclaimer
This article provided by the DailyBubble team should only be considered as informational and/or entertainment by the reader. DailyBubble makes no representation to buy or sell any security or financial instrument within the article. Readers seeking investment advice should seek independent financial advice from a professional, and independently research and verify. The DailyBubble team wrote this article and may express its own opinions therein.

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