North America

Stocks Gain Early Gains on Tariff Concerns

• Stocks give up early gains on tariff concerns.
• Barcharts show stock performance in different states.
• Stocks give up gains on tariff concerns.
• Stocks give up gains on trades on Feb 27, 2025.
• Share link for trading tooltip light button.
• Symbols for AMEX, SPY, and DIA are displayed.
• SPY shows a positive percentage of +1.56%.

US Stock Market Updates

• The Jan PCE price index report, the Fed’s preferred inflation measure, is expected to ease slightly to +2.5% y/y from December’s +2.6%.
• The core index is expected to ease to +2.6% y/y from December’s +2.8%.
• These measures are expected to remain above their 3-3/4 year lows posted in 2024 of +2.1% and +2.6%, respectively, and well above the Fed’s +2% inflation target.
• Markets are discounting the chances at 3% for a -25 bp rate cut at the next FOMC meeting on March 18-19.
• The Euro Stoxx 50 is down -1.33%, while China’s Shanghai Composite Index climbed to an 8-week high and closed up +0.23%. Japan’s Nikkei Stock 225 closed up +0.30%.
• March 10-year T-notes (ZNH25) are down -5 ticks, with the 10-year T-note yield up +2.1 bp to 4.277%.
• European bond yields are moving higher, with the 10-year German bund yield rebounding from a 2-week low of 2.416% and the 10-year UK gilt yield up +0.7 bp to 4.510%.
• Eurozone Feb economic confidence rose +1.0 to a 5-month high of 96.3, stronger than expectations of 95.9.
• Eurozone Jan M3 money supply rose +3.6% y/y, weaker than expectations of +3.8% y/y.
• Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at the March 6 policy meeting.