US Stock Market Volatility Soars After February Inflation Report

The US stock market experienced significant volatility following the release of the February inflation report. As of 9:00 PM Hanoi time, the S&P 500 index rose by 0.1% to reach 5,127 points, while the Nasdaq Composite increased by 32 points, equivalent to a 0.2% rise. Meanwhile, the Dow Jones remained flat, holding at 38,784 points.

According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased by 0.4% in February and 3.2% compared to the same period last year. Economists surveyed by Dow Jones had predicted a 0.4% increase in CPI for the previous month and a 3.1% increase compared to the same period last year. Core inflation, which excludes food and energy, rose by 0.4% in February, surpassing the forecast of 0.3%.

Following the report, technology stocks saw significant gains. Shares of chip manufacturer Nvidia increased by 2.4%, while Microsoft’s shares rose by approximately 1%. Oracle’s shares surged by over 9% after exceeding Wall Street’s profit expectations.

Skyler Weinand, Chief Investment Officer at Regan Capital, commented, “It is normal to anticipate market declines, but it is difficult to determine what could impede the market’s upward trajectory, given that business results, inflation, and interest rates are moving in the right direction.”

Following the CPI release, investors are now turning their attention to the Producer Price Index (PPI), which will be published later this week.

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