Nasdaq Down Over 100 Points; US Producer Inflation Stalls In February

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.18% to 41,276.26 while the NASDAQ dipped 0.71% to 17,523.60. The S&P 500 also fell, dropping, 0.33% to 5,580.80.

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Leading and Lagging Sectors

Energy shares gained by 0.9% on Thursday.

In trading on Thursday, consumer discretionary shares dipped by 1.8%.

Top Headline

U.S. producer prices unexpectedly stagnated in February, while core inflation posted a rare contraction, reinforcing hopes that cost pressures may be easing despite lingering concerns over trade tariffs.

U.S. producer prices came in unchanged in February from January compared to a revised 0.6% increase in the previous period and versus estimates of a 0.3% gain.

Equities Trading UP
                       

Equities Trading DOWN

Commodities

In commodity news, oil traded down 0.8% to $67.15 while gold traded up 0.1% at $2,950.20.

Silver traded down 0.6% to $33.555 on Thursday, while copper fell 0.4% to $4.8310.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.1%, Germany's DAX 40 fell 0.8% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index rose 0.3%, while London's FTSE 100 fell 0.1%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei dipping 0.08%, China's Shanghai Composite Index falling 0.39% and Hong Kong's Hang Seng Index falling 0.58%, India's BSE Sensex falling 0.27%.

Economics

  • U.S. producer prices came in unchanged in February from January compared to a revised 0.6% increase in the previous period and versus estimates of a 0.3% gain.
  • U.S. initial jobless claims declined by 2,000 to 220,000 in the first week of March, compared to market estimates of 225,000.

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