Thread: Market Correction Sparks Feeding Frenzy for Stocks

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  1. #1

    Default Market Correction Sparks Feeding Frenzy for Stocks

    If you blinked or werent watching the market for the past week, there was a fierce correction that has erased all but a few traces of the shock and awe of the trapdoor sell-off.
  2. #2


    U.S. equities advanced for a sixth consecutive session, overcoming a hotter-than-expected January Consumer Price Index (CPI) reading. The Nasdaq Composite led the rally, followed by the S&P 500 and the Dow Jones Industrial Average, both of which returned to positive territory for the year.
  3. #3


    The Russell 2000 also gained on the week and got back to the flatline. The market showed an impressive performance following the release of the Consumer Price Index for January, which prompted fears that inflation is picking up: total CPI increased 0.5 month over month versus consensus of +0.4, while core CPI, which excludes food and energy, rose 0.3 versus consensus of +0.2.
  4. #4


    In the bond market, U.S. Treasuries were weak ahead of the release of Wednesday’s economic data — which also included a disappointing Retail Sales report for January (-0.3 actual vs +0.2 consensus) — and extended their losses in the aftermath, pushing yields higher across the curve. The benchmark 10-year yield climbed eight basis points to 2.91, which marks its highest level in more than four years, before backing off by Friday to yield 2.86.

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