To The Moon

US stocks rallied to close out the best February for the $S&P 500(.SPX)$ and Nasdaq Composite $NASDAQ(.IXIC)$ in nearly a decade as investors digested a crucial inflation reading.

Both the Nasdaq and S&P 500 had their best February's since 2015.

As a result, several tickers also ended the month on record highs. $NVIDIA Corp(NVDA)$ $Meta Platforms, Inc.(META)$ $Chipotle Mexican Grill(CMG)$ $Advanced Micro Devices(AMD)$ $JPMorgan Chase(JPM)$ $Lennar(LEN)$ $Cardinal Health(CAH)$ $NXP Semiconductors NV(NXPI)$ $Tractor Supply(TSCO)$

According to Carson, a higher January and February could mean the bull continues.

• An inflation measure closely watched by the Fed continued cooling last month, matching Wall Street's expectations.

• The Personal Consumption Expenditures (PCE) index grew 2.4% year-over-year in January, a decline from last month's 2.6% print.

• "Core" PCE, the measure most often mentioned by Fed Chair Jerome Powell, came in at 2.8%, down from 2.9% in the month prior.

• The looming release of the PCE index data — the Fed's preferred measure of inflation — had weighed on stocks all week. Policymakers have repeatedly stressed they want to see more signs of price pressures easing before committing to rate cuts.

$NVIDIA Corp(NVDA)$ If this recent .618 extension breakout is like the others, this would put $NVIDIA Corp(NVDA)$ around $970 by mid-April.

Jake Wujastyk