Blue-Chip Index Joins S&P 500, Nasdaq Lower

The Dow was modestly higher most of the day, but gave back gains the last hour

Assistant Editor
Mar 3, 2021 at 4:29 PM
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Stocks closed up shop lower on Wednesday, as losses from tech names and rising bond yields dampened investor sentiment. Despite trading in the black for most of the day, the Dow pivoted lower in the final half hour of trading. The S&P 500 and Nasdaq both finished in the red too, the former notching its fourth loss in five days. Higher bond yields took their toll in particular on technology stocks, which rely on easy borrowing for better growth.

Continue reading for more on today's market, including:

  • Options bulls unfazed by this fast food stock's post-earnings drop.
  • Call traders picked up on Lyft's best week in 12 months. 
  • Plus, five options trading mistakes to avoid; casino stock pops after billion-dollar sale; and bull notes pour in for HPE.

The Dow Jones Industrial Average (DJI - 31,270.09) fell 121.4 points, or 0.4% for the day. Dow Inc (DOW) topped the list of blue-chip winners, rising 1.9%, while Intel (INTC) fell to the bottom after losing 2.6%.

Meanwhile, the S&P 500 Index (SPX - 3,819.72) lost 50.6 points, or 1.3% for the day. The Nasdaq Composite (IXIC - 12,997.75) shed 361 points, or 2.7% for the day.

Lastly, the Cboe Volatility Index (VIX - 26.67) rose 2.6 points, or 10.7% for the day.

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  1. Starting on Tuesday, March 4, Facebook will once again allow political, electoral and social issues ads, after a temporary ban amid the 2020 U.S. presidential election..  (CNBC)
  2. Following January's Reddit-fueled trading frenzy, an ETF made up of the buzziest stocks is all the latest buzz. (MarketWatch)
  3. Here's 5 weekly options trading mistakes that everyone should avoid.
  4. A billion-dollar sale boosted Las Vegas Sands stock.
  5. Bulls poured in for HPE after impressive quarterly results.

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Gold Falls Again Near Nine-Month Lows

Oil prices rose today, as investors reacted to expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide to ease black gold output. In addition, increased vaccine rollouts added support, with Biden saying he hoped the U.S. would be "back to normal"  by this time next year at the latest. As a result, April-dated crude added $1.53, or 2.6%, to settle at $61.28 per barrel.

After snapping a five-day losing streak yesterday, gold prices fell once again today to hover near a nine-month low. Elevated U.S. Treasury yields and stronger U.S. dollar dragged bullion down, as did the outflow of safe-haven assets spurred by hopes of quick economic rebound. In response, April-dated gold shed $17.80, or 1%, to settle at $1,715.80 an ounce.

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