Market Overview March 6

After posting significant gains in February, the US market indices increased on Friday, with the NASDAQ on track to set a new record high.

Economic News
2024年3月06日

After posting significant gains in February, the US market indices increased on Friday, with the NASDAQ on track to set a new record high.

According to recent data, US personal spending increased 0.3% month over month and 2.4% year over year in January, down significantly from December.

Core spending increased 2.8% year over year in January, down from December's 2.8% m/m increase.

According to these figures, inflation is gradually slowing down in line with the Fed's objectives.

Investors are currently evaluating how the data may affect the Federal Reserve's future policy choices.

As of 15:32 GMT, the Dow Jones increased by 0.1%, or 7 points, to 39,003, the S&P 500 increased by 0.2%, or 12 points, to 5108, and the NASDAQ increased by 0.3%, or 52 points, to 16,144.

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Robert Thompson

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Due to the strong demand for AI processors, Nvidia saw a record profit of $12.3 billion in the fourth quarter, up 770% year over year. The company revealed its financial results this week.

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The US S&P 500 index had a great start to the year, breaking through the psychological barrier of 5,000 and reaching a record high of 5,048 on February 12.

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As the corporate earnings season draws to a close, Wall Street is expected to post weekly gains, but US market indices were divided on Friday.

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