{"id":24737,"date":"2025-03-27T15:06:50","date_gmt":"2025-03-27T20:06:50","guid":{"rendered":"https:\/\/www.eoption.com\/market-review-march-27-2025\/"},"modified":"2025-03-27T15:06:50","modified_gmt":"2025-03-27T20:06:50","slug":"market-review-march-27-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/market-review-march-27-2025\/","title":{"rendered":"Market Review: March 27, 2025"},"content":{"rendered":"\n
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Closing Recap<\/span><\/b><\/p>\n

Thursday, March 27, 2025<\/span><\/b><\/p>\n\n\n\n\n\n\n\n
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Index<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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DJ Industrials<\/span><\/b><\/p>\n<\/td>\n

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-155.09<\/span><\/p>\n<\/td>\n

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0.37%<\/span><\/p>\n<\/td>\n

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42,299<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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-18.89<\/span><\/p>\n<\/td>\n

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0.33%<\/span><\/p>\n<\/td>\n

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5,693<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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-94.98<\/span><\/p>\n<\/td>\n

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0.53%<\/span><\/p>\n<\/td>\n

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17,804<\/span><\/p>\n<\/td>\n<\/tr>\n

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Russell 2000<\/span><\/b><\/p>\n<\/td>\n

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-8.14<\/span><\/p>\n<\/td>\n

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0.39%<\/span><\/p>\n<\/td>\n

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2,065<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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U.S. stocks finished the day lower, sliding in the final minutes ahead of key inflation data tomorrow morning (PCE), expected Trump comments tonight (more talk ahead of April 2nd<\/sup> reciprocal tariffs), and one of the more highly anticipated tech IPOs in a while. Stocks opened lower initially, before rebounding mid-morning, only to erase those gains and finished down slightly. Gold prices posted new all-time closing highs above $3,060 an ounce while the dollar edged higher along with oil. There were a few notable news items impacting market sentiment today: <\/p>\n

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1)     <\/span>Tariffs: President Trump’s overnight permanent tariffs on autos that are not made in the US, effective April 2 starting at 2.5% and scaling to 25% with no exceptions send stock prices lower. The headlines weighed heavily on shares of global auto stocks with likes of GM<\/span>, STLA<\/span> and foreign autos falling, but saw pockets of strength in used car\/fleet names (CAR<\/span>, HTZ<\/span>, KMX<\/span>) and auto parts retailers (AAP<\/span>, AZO<\/span>, ORLY<\/span>). CNBC<\/span>’s Sara Eisen noted about half of U.S. cars sold here are imported. Here’s where they are from and who will feel the biggest hit from new 25% tariffs on autos made outside the U.S. with Mexico 32%, Japan 16%, Korea 15%, Canada 13%, Germany 10% and “other” 13%. <\/p>\n

2)     <\/span>Inflation\/Economic data: the final reading of Q4 GDP offered no major surprises and neither did the Q4 PCE data points, while jobless claims were mostly in-line. Attention now turns to tomorrow’s “fresher” February PCE inflation data at 8:30 AM<\/span> where ests M<\/span>\/M<\/span> for est. +0.3% (prior +0.3%) and on a Y<\/span>\/Y<\/span> basis est. to rise +2.5% (prior +2.5%). Core PCE Price Index M<\/span>\/M<\/span> for February est. +0.3% (prior +0.3%) and Y<\/span>\/Y<\/span> expected to rise +2.7% (prior +2.6%). Tomorrow we also get Personal income\/spending and University of Michigan confidence.<\/p>\n

3)     <\/span>After a strong start to the week with big advances for technology (XLK<\/span>), the sector has pulled back the last few days amid weakness in semis and data center names after multiple reports that CoreWeave (CRWV<\/span>) is planning to downsize its IPO<\/span> and cut the price (prior expected range was $47-$55). News of slowing demand\/high debt for the company (as per CNBC<\/span> Faber the day prior), has weighed heavily on sentiment for the space (NVDA<\/span>, AMD<\/span>, ARM<\/span>, SMCI<\/span>, VRT<\/span>, etc. been weak). CNBC<\/span> Leslie Picker noted this morning that NVDA<\/span> was forced to step in and “anchor” the IPO with a $250MM order at $40 per CNBC<\/span> (not necessarily the pricing of it and no confirm if deal range was cut. (NVDA<\/span> already owns 5% of CRWV<\/span>).<\/p>\n

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In Interesting Stats: 1) @ Charlie Bilello tweets: “The S&P 500 fell 1.1% yesterday, the 12th daily decline in 2025 w\/ a loss above 1%. Last year at this point we had only 3 large down days which was abnormally low. The average year since 1928 has 29 large declines. This is the price of admission.” 2) This week’s NAAIM<\/span> Exposure Index number declined from last week’s reading (new YTD<\/span> low): 57.55 (from 64.64) – recent peak of 99.24 from 12\/11, prior trough reading of 64.10 to start the year on 1\/1. 3) Bearish sentiment remains above 50 a 4th<\/sup> week: The bull-bear spread in the American Association of Individual Investors (AAII<\/span>) weekly survey was -24.8 vs -36.5 last week. Bulls rise to 27.4% from 21.6%, Neutrals rise to 20.4% from 20.3% and Bears fall to 52.2% from 58.1%.<\/p>\n

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Economic Data<\/p>\n