Market Update Newsletter 3/14/23

Markets traded pretty wild yesterday on the heels of the Silicon Valley Bank collapse. DOW and S&P ended down and the NASDAQ ended higher. Bitcoin (BTC) is up 9% at $24k. Futures are soaring as local banks recover.

Another bank, Western Alliance, was caught in the SVB vortex. The stock was down 47% yesterday but is having a 50% rally in the premarket. The market seems far from panic, the worst-case scenario has already been eliminated by the Fed's intervention.

CPI numbers released yesterday show a slowdown in inflation. Inflation is still going up but more slowly every month and in line with economists' expectations.

Happy Investing!

The Punkrock Capitalist