S&P 500 (SPY) Report – 04/11/24

Good morning, traders!

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

U.S. stocks traded steady in premarket trading but found some relief after the Producer Price Index (PPI) for March showed a smaller increase than anticipated, growing by just 0.2% from the previous month. This slower growth in producer prices, which was below economists’ forecasts, helped calm investor concerns that had been sparked by an unexpected rise in consumer prices the day before. The year-over-year increase in PPI also fell short of predictions, though it marked the quickest rise in nearly a year.

The reaction to this news came on the heels of a significant market reaction to March’s consumer price index (CPI) report, which exceeded expectations and led to a drop in stock prices. The surprising CPI data led investors to adjust their expectations for future Federal Reserve actions, with the market now anticipating possibly only two rate cuts in 2024, later than previously expected. Some analysts even suggest that depending on economic developments, there could be no cuts or possibly a rate increase.

On the international front, the European Central Bank (ECB) maintained its interest rates at record highs but signaled that rate cuts could be expected soon. This news comes amidst other concerns affecting the market, such as rising oil prices due to tensions between Israel and Iran. Despite these pressures, there’s hope that upcoming first-quarter corporate earnings reports could provide a boost to stock markets, especially as companies begin to share their financial performances.

The backdrop to these market movements includes the Federal Reserve’s stance on interest rates. At their last meeting, Fed policymakers decided to keep rates steady, aiming to see inflation move closer to their 2% target before enacting further rate cuts. This cautious approach is in light of recent inflation data running hotter than preferred, impacting traders’ expectations for future rate adjustments.

Thursday Economic Events:
Jobless Claims 8:30am ET – High Volatility Expected
PPI-Final 8:30am ET – High Volatility Expected
EIA Natural Gas Report 10:30am ET

Fed Speaker Scheduled:
John Williams 8:45am ET
Thomas Barkin 10:00am ET
Susan Collins 12:00pm ET
Raphael Bostic 1:30pm ET

 

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.

Related Articles

Subscribe
Notify of
guest
14 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
exploreuaeonline
exploreuaeonline
1 day ago

Hello Neat post Theres an issue together with your site in internet explorer would check this IE still is the marketplace chief and a large element of other folks will leave out your magnificent writing due to this problem

techyin
techyin
16 days ago

I do trust all the ideas youve presented in your post They are really convincing and will definitely work Nonetheless the posts are too short for newbies May just you please lengthen them a bit from next time Thank you for the post

Gwen Lee
Gwen Lee
1 month ago

Somebody essentially help to make significantly articles I’d state. This is the first time I frequented your web page and up to now? I surprised with the research you made to make this actual post incredible. Fantastic job!

Eileen Mccoy
Eileen Mccoy
1 month ago

Hi my family member! I want to say that this post is awesome, nice written and come with approximately all significant infos. I would like to peer extra posts like this.

soapertv
soapertv
1 month ago

Attractive section of content I just stumbled upon your blog and in accession capital to assert that I get actually enjoyed account your blog posts Anyway I will be subscribing to your augment and even I achievement you access consistently fast

bizzlyn
bizzlyn
1 month ago

I simply could not go away your web site prior to suggesting that I really enjoyed the standard info a person supply on your guests Is going to be back incessantly to investigate crosscheck new posts

myflixer
myflixer
1 month ago

I have been browsing online more than three hours today yet I never found any interesting article like yours It is pretty worth enough for me In my view if all website owners and bloggers made good content as you did the internet will be a lot more useful than ever before

thedeadlines
thedeadlines
1 month ago

My brother suggested I might like this website He was totally right This post actually made my day You cannt imagine just how much time I had spent for this information Thanks

bestiptv-smarters
bestiptv-smarters
2 months ago

Hi Neat post Theres an issue together with your web site in internet explorer may test this IE still is the marketplace chief and a good component of people will pass over your fantastic writing due to this problem

newsreality
newsreality
2 months ago

you are in reality a just right webmaster The site loading velocity is incredible It seems that you are doing any unique trick In addition The contents are masterwork you have performed a wonderful task on this topic

acheteriptvabonnement
acheteriptvabonnement
3 months ago

Hi my loved one I wish to say that this post is amazing nice written and include approximately all vital infos Id like to peer more posts like this

seosearchoptimizationpro
seosearchoptimizationpro
4 months ago

Keepyourbalance

acheteriptvabonnement
acheteriptvabonnement
5 months ago

My brother suggested I might like this blog He was totally right This post actually made my day You can not imagine simply how much time I had spent for this info Thanks

soapgate
soapgate
5 months ago

Your blog is a treasure trove of valuable insights and thought-provoking commentary. Your dedication to your craft is evident in every word you write. Keep up the fantastic work!