top of page

Weekly Market Update – February 12, 2024

Price Return Last Week

S&P 500 +1.4% S&P Mid Cap +1.5% Russell 2000 +2.4

MSCI EAFE +0.1% MSCI EM +0.7%

10 Yr US Treasury Rate – rose from 4.16% to 4.19%

Source: Refinitiv Eikon


Recent News

S&P 500 Hits 5,000 – For the first time ever, the S&P 500 rose above 5,000.  Along with the S&P 500, the Dow Jones Industrial Average and Nasdaq Composite have posted gains for five consecutive weeks.

Source: Thomson Reuters

Earnings Update – Through Friday, 67% of companies in the S&P 500 have reported Q4 earnings.  Year-over-year earnings and revenue growth has improved to 7% and 4%, respectively.

Source: Refinitiv Eikon

CPI Revisions – Annual seasonal adjustments were made to CPI data to improve the accuracy of the metric.  In contrast to last year where inflation adjustments caused previously reported inflation data to be revised higher, this report was less noteworthy with the adjustments largely in-line with expectations.  The month-over-month increase in December was revised lower from 0.3% to 0.2% while the November increase was revised higher from 0.1% to 0.2%.

Source: Thomson Reuters

Hearing Restored – An 11-year-old child who was born deaf had their hearing restored with a new experimental gene therapy treatment.  The child was the first participant in a new study looking to restore hearing for those with a genetic form of hearing loss.  It is estimated that approximately 200,000 individuals globally suffer from a similar condition.

Source: MarketWatch

Super Bowl – The NFL started labeling each Super Bowl with Roman numerals starting with Super Bowl V.  It is reported that this practice started to avoid any confusion over what season the championship game represented as the majority of the football season occurs in the calendar year prior to when the Super Bowl is played.  The only time the NFL chose not to use Roman numerals was in 2016 for Super Bowl 50 as they didn’t like the look of Super Bowl L on marketing logos.

Source: The Hill


Upcoming Events

2/12 – CPI

2/13 – Notable Earnings Reports: Biogen, Marriott, Zoetis, AIG, Airbnb

2/14 – Notable Earnings Reports: Kraft Heinz, Cisco, Occidental Petroleum

2/15 – Retail Sales, Notable Earnings Reports: Southern Co, CBRE, Deere & Co, Airbus

2/16 – Consumer Sentiment

Source: Refinitiv Eikon


bottom of page