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Today's market

February 23, 2024 at 6:00 p.m. EDT

Michael P. Reinking, CFA
Sr. Market Strategist

From an equity market perspective this week was really the tale of two halves, with Nvidia earnings acting as the demarcation point. Coming out of the long weekend US equity markets pulled back modestly to start the week. There was some rotation as tech/growth stocks underperformed as investors took some chips off the table ahead of this catalyst. You could see the anxiety building as the VIX had moved up to around 16 from 14 last week, in an otherwise quiet tape. That uneasiness went up another notch after Palo Alto cut revenue guidance after the close on Tuesday sending the stock sharply lower and pulling the entire cyber security and technology sectors with it.

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