Stock rally falters, NVIDIA rallies – US Market Wrap

– The stock market lost speed at record highs as traders braced for a bombardment of economic data and words from Federal Reserve speakers that would help shape interest rate expectations.
– Wall Street is also keeping a careful eye on how the market will handle large Treasury and corporate sales during month-end positioning. US rates climbed following Monday’s auctions of two- and five-year government bonds. Meanwhile, blue-chip businesses are anticipated to issue over $35 billion in bonds this week. These corporations sold at least $153 billion of debt in the United States in February, setting a monthly record, as they scramble to capitalise on investor demand amid lower borrowing prices.
– As the economy returns to the forefront, the Fed’s preferred inflation indicator is expected to show the largest gain in a year. Thursday’s core personal consumption expenditures price index will most likely underscore the central bank’s difficult route to meeting its 2% target. Following a surge in both the consumer and producer price indexes, the PCE would also validate recent Fedspeak, indicating that officials are not in a hurry to lower rates.
– The S&P 500 remained below 5,100. Alphabet Inc. plunged amid growing concerns that Google’s artificial intelligence errors are jeopardising its search business. Nvidia set a new record. Treasury 10-year rates are up three basis points to 4.28%. Bitcoin rose above $54,000.