Weekly Indices
DJIA: 41,488.19 (-3.07%)
NASDAQ: 17,754.09 (-2.43%)
S&P 500: 5,638.94 (-2.27%)
Commodities
Gold: 2,991.30 (+2.56%)
Copper: 488.00 (+3.54%)
Crude Oil: 67.20 (+0.15%)
New Beta Feature: Analysts Ratings Detail
We are pleased to announce that all users now have access to a new beta feature: the ability to view a list of individual analysts that are following a specific stock, along with their ratings and price target history. For more information, please see our latest blog post [1].
Economy
The EIA’s March 2025 Short-Term Energy Outlook (STEO) forecasts [2] that crude oil prices will rise by $5 per barrel to $75/b by Q3 2025 due to decreasing production from Iran and Venezuela. However, oil prices are expected to fall to $68/b in 2026 as oil inventories increase. Natural gas inventories are expected to fall below 1.7 trillion cubic feet at the end of March, which is 10% below the previous five-year average, due to cold weather. The Henry Hub price forecast for 2025 is $4.20 per million British thermal units (MMBtu), an 11% increase from last month’s estimate. The 2026 forecast is $4.50/MMBtu, an 8% increase. Total U.S. electricity sales are expected to increase by 3% in 2025, led by strong growth in the residential and commercial sectors. Electricity generation is also expected to grow 3% this year (vs. 2% forecast last month) and another 1% in 2026. The STEO did not take into account the potential impact of tariffs.
The Labor Department reported [3] that the consumer price index increased (+0.2%) in February, a deceleration from (+0.5%) in January and (+0.4%) in December. The all items index rose (+2.8%) over the last 12 months, 0.2 percentage points lower than January’s report. The shelter index increased (+0.3%), contributing to almost half of the monthly all items index increase. Energy rose (+0.2%), as a (-1.0%) seasonally adjusted gasoline price decrease was offset by fuel oil, electricity, and piped gas increases. The food index also rose (+0.2%), following a (+0.4%) increase the previous month. Core CPI inflation, excluding food and energy, rose (+0.2%) in February, following a (+0.4%) January increase. The annual core CPI inflation rate rose (+3.1%), slowing from the previous month’s (+3.3%) increase. The shelter index rose (+4.2%), its lowest 12-month increase since December 2021. Significant year-over-year increases occurred in indexes including motor vehicle insurance (+11.1%), education (+3.7%), medical care (+2.9%), food (+2.6%), and recreation (+1.8%).
The Labor Department reported [4] that the producer price index for final demand, which measures the prices that producers pay for goods and services, was unchanged in February, following upwardly revised increases of (+0.6%) in January and (+0.5%) in December. For the 12-month period ending in February 2025, the PPI rose by an unadjusted (+3.2%). Final demand services saw its largest decline since July 2024, falling (-0.2%) and ending a six-month streak of increases. Margins for machinery and vehicle wholesaling decreased (-1.4%), accounting for over forty percent of the decline in final demand services. Final demand goods advanced (+0.3%), marking the fifth straight increase. Chicken egg prices, which soared (+53.6%), accounted for two-thirds of the increase in the final demand goods. Excluding food, energy, and trade services, the core PPI increased (+0.2%), following (+0.3%) in January. For the 12-month period ending in February 2025, core PPI inflation rose by an unadjusted (+3.3%).
Upcoming Economic Reports:
Monday March 17 – Core Retail Sales (MoM) (February)
Wednesday March 18 – FOMC Interest Rate Decision
Earnings Calendar: