Drop in jobless claims points to a continued rally: Strategist
03/14/2024 22:19
US Equities (^GSPC, ^DJI, ^IXIC) have experienced a historic run, with the S&P 500 seeing multiple weeks of gains. However, February's Producer Price Index (PPI) reading revealed a 0.6% increase in wholesale prices. Carson Group Chief Market Strategist Ryan Detrick joins Yahoo Finance to discuss the latest PPI data and his perceptions of the market's strength. Detrick signals that initial weekly jobless claims are useful indicators of the economy's robust performance: "What caught me this morning though, we're still bullish, maybe a little pause would be normal, yes inflation is a little hotter, maybe you could argue the retail numbers are a tad weak, but look at claims. 209,000, I mean just quietly -- you hear about the layoffs, yet there's no spike in initial claims. The consumer is still strong, wages are still strong...but overall this backdrop is still there, its a strong economy, and still a bull market. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
US Equities (^GSPC, ^DJI, ^IXIC) have experienced a historic run, with the S&P 500 seeing multiple weeks of gains. However, February's Producer Price Index (PPI) reading revealed a 0.6% increase in wholesale prices.
Carson Group Chief Market Strategist Ryan Detrick joins Yahoo Finance to discuss the latest PPI data and his perceptions of the market's strength.
Detrick signals that initial weekly jobless claims are useful indicators of the economy's robust performance: "What caught me this morning though, we're still bullish, maybe a little pause would be normal, yes inflation is a little hotter, maybe you could argue the retail numbers are a tad weak, but look at claims. 209,000, I mean just quietly -- you hear about the layoffs, yet there's no spike in initial claims. The consumer is still strong, wages are still strong...but overall this backdrop is still there, its a strong economy, and still a bull market. "
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino