Fed's Favorite Inflation Gauge Rises By Most In A Year, Bitcoin Soars, Putin's Nuclear Threat
Portfolio Pulse from The Arora Report
The Fed's preferred inflation gauge, PCE, rose significantly, leading to a positive reaction in the stock market, particularly in AI stocks like C3.ai Inc, and Bitcoin. The PCE data showed deflation in goods but inflation in services. Aggressive buying was also seen in small caps, as indicated by the iShares Russell 2000 ETF. The article also discusses global economic influences, including Bank of Japan's interest rate signals and Putin's nuclear threats. Positive money flows were noted in major tech stocks, while Amazon showed negative flows. Gold, oil, and Bitcoin saw aggressive buying, with Bitcoin nearing $64,000 again.
February 29, 2024 | 4:46 pm
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POSITIVE IMPACT
C3.ai Inc saw aggressive buying after PCE data release and better-than-expected earnings, indicating a positive short-term impact.
The aggressive buying in C3.ai Inc is directly linked to the positive reception of PCE data and the company's better-than-expected earnings report.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
iShares Russell 2000 ETF experienced very aggressive buying following the PCE data release, suggesting a positive short-term impact.
The PCE data release has led to aggressive buying in small caps, as evidenced by the performance of the iShares Russell 2000 ETF.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust showed mixed money flows in early trade, indicating a neutral short-term impact despite the PCE data release.
Despite the PCE data release, SPDR S&P 500 ETF Trust's mixed money flows suggest a neutral short-term impact on its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70