Stock Market Today: March 5, 2021
Harvey S. Katz, CFA | 03/05/2021
Suddenly, it is all about inflation, following years in which pricing concerns had been largely absent. Several things are sparking the concerns. First, last month's Producer Price Index shot up. Then, the ISM reported that the pricing component of its manufacturing survey showed another jump in February, as did the pricing gauge on its companion non-manufacturing index. Also, oil prices continue to push up and Treasury yields are ascending rapidly--nearly quadrupling from their 2020 lows. All of this is rattling the stock market, especially the NASDAQ.