Stock Market Update
14-Mar-25 10:05 ET
Stocks remain positive despite soft consumer sentiment data
Dow +381.56
at 41194.82,
Nasdaq +215.05
at 17518.06,
S&P +48.83
at 5570.35
[BRIEFING.COM] The stock market is in rebound-mode. Mega cap stocks are leading the charge, but many other stocks have participated in upside moves. The S&P 500 sports a 1.0% gain and the Nasdaq Composite is 1.4% higher.
The market was oversold on a short-term basis and due for a bounce. Some reasons cited as a buying catalyst include diminishing chances of a government shutdown after Senator Chuck Schumer said he would vote to keep the government funded, speculation of easing trade tensions between the US and Canada following reports of a productive meeting between Ontario Premier Ford and Sec. of Commerce Lutnick, and speculation that China will soon provide more policy stimulus to boost domestic consumption.
The University of Michigan Consumer Sentiment survey dropped to 57.9 in the preliminary March reading (Briefing.com consensus 65.6).
Treasuries didn't react much to the survey. The 10-yr yield is at 4.32% and the 2-yr yield is at 4.00%.
