AllMarket Summary
logoArgusMarch 15, 2024

Market Digest: DVN, THO, SPLK

Sector(s)
Energy, Consumer Cyclical
Summary

U.S. markets pulled back on Thursday on hotter-than-expected inflation data. In February, headline PPI rose 0.6%, up from 0.2% in January and ahead of the expected 0.3% increase -- with nearly two-thirds of the increase attributed to a rise in prices for final-demand goods. The U.S. Census Bureau reported that sales in January were down 1.3%. Leading the decline were merchant wholesalers (-1.7%), while retailer sales slipped 1.1%, and manufacturer sales declined 1.0%. Inventories were essentially flat, as a 0.4% rise in retail inventories was offset by a 0.3% drop in merchant wholesaler and 0.1% decline in manufacturer inventories. Initial jobless claims for t

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