Major U.S. indexes posted a second straight day of gains: Dow +0.85%, S&P 500 +0.64%, Nasdaq +0.31%.
February U.S. retail sales rose 0.2%, missing the 0.6% estimate, while core retail sales grew 1%.
Tesla fell 4.8% due to China’s autonomous driving policy uncertainty and Mizuho’s price target cut.
Intel (+6.8%) gained on restructuring plans.
Baidu (+9%) rose on China’s economic stimulus optimism.
Nvidia (-1.8%) declined amid U.S.-China trade concerns.
Quantum computing stocks surged, with D-Wave (+10.15%) and Quantum Corp (+40.1%) rallying on AI conference anticipation.
Opinion
The combination of dip buying and stronger core retail sales fueled optimism in U.S. markets. Meanwhile, geopolitical risk reduction prospects provided additional support. However, market volatility is likely to persist as investors react to company-specific events and evolving policy developments.
Core Sell Point
With economic indicators and geopolitical risks shaping market sentiment, investors should prepare for increased stock-specific volatility driven by corporate earnings and regulatory changes.
U.S. stocks extended their gains for a second consecutive session, supported by dip buying and easing economic concerns. On March 17 (ET), the Dow Jones Industrial Average rose 0.85% to 41,841.63, while the S&P 500 and Nasdaq gained 0.64% and 0.31%, respectively.
According to the U.S. Department of Commerce, February retail sales increased 0.2% month-over-month, falling short of the 0.6% forecast. However, core retail sales (control group) rose 1%, offering a mildly positive signal for GDP growth expectations. Additionally, reports that former President Donald Trump is engaging in negotiations with Russian President Vladimir Putin to discuss ending the war in Ukraine fueled hopes of geopolitical risk reduction.
Stock Highlights
Tesla (-4.8%):
Investors reacted negatively to China’s announcement of free autonomous driving trials, raising market uncertainty.
Mizuho Securities cut Tesla’s price target from $515 to $430, adding to the downward pressure.
Intel (+6.8%):
Surged after announcing a corporate restructuring strategy.
Baidu (+9%):
Benefited from expectations of increased consumer spending in China due to new government stimulus measures.
Nvidia (-1.8%):
Weighed down by ongoing U.S.-China tensions.
Quantum Computing Stocks Soar:
D-Wave Quantum (+10.15%) and Quantum Corp (+40.1%) surged as investors anticipated AI-related breakthroughs ahead of Nvidia’s upcoming AI conference.
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