Stocks Fall as Bond Yields Soar to 14-Month High

Consumer confidence surged to its highest level in a year

Deputy Editor
Mar 30, 2021 at 4:28 PM
facebook twitter linkedin


The Dow snapped its three-day win streak today with a triple-digit loss. Stocks were firmly in the red all morning, as the 10-year Treasury yield jumped to its highest level since January 2020. A late-afternoon surge had the blue-chip index momentarily eyeing positive territory, but weakness from Apple (AAPL) and Microsoft (MSFT) proved too much to overcome. 

The S&P 500 and Nasdaq briefly dipped into the black as part of that late push, but ultimately finished lower amid tech sector underperformance. Upbeat consumer confidence data tried to keep broad-market losses in check though, with March data surging to 109.7 -- its highest reading in a year and far surpassing the predicted reading of 96.8.

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

  • It's time for analysts to take notice of Lennox stock.
  • PayPal recently launched a cryptocurrency checkout feature.
  • Plus, T-Mobile gets with the TV times; YELP upgraded; and ROKU on the mend.

The Dow Jones Industrial Average (DJI - 33,066.96) fell 104.4 points today, or 0.3% for the day. Goldman Sachs (GS) topped the small list of Dow winners with a 1.9% rise, while Amgen (AMGN) paced the list of laggards with a 2% fall.

Meanwhile, the S&P 500 Index (SPX - 3,971.09lost 12.5 points, or 0.3% for the day. The Nasdaq Composite (IXIC - 13,059.65) shed 14.3 points, or 0.1% for the day.

Lastly, the Cboe Volatility Index (VIX - 19.61) fell 1.1 point, or 5.5%, today.

closing summary 0330

nyse nasdaq 0330

  1. Critics say the Federal Reserve isn't focusing enough on the alarming rate that home prices are rising. (CNBC)
  2. The World Health Organization (WHO) and leaders from 23 countries backed a pandemic treaty to deal with future health emergencies. (Reuters)
  3. T-Mobile announced the end of its TVision service.
  4. Yelp stock could be a post-pandemic darling.
  5. ROKU could rebound, and analysts are taking notice.

Earnings 0330

UVOL0330

Oil Falls, Investors Shift Focus to Upcoming OPEC+ Meeting

Oil prices fell today, after the Suez Canal reopened following days of blockage by a grounded supercarrier. Meanwhile, investors shifted their focus to this week's Organization of the Petroleum Exporting Countries and their allies (OPEC+) meeting, which will focus on the extension of supply curbs amid renewed lockdown measures. In response, May-dated crude shed $1.01, or 1.6%, to settle at $60.55 per barrel.

Gold prices fell once more, now down to three-week lows as the dollar continues to get stronger and Treasury yields rise. Meanwhile, the yellow metal's appeal was dampened by hopes for a faster economic recovery. As a result, April-dated gold shed $28.30, or 1.7%, to settle at $1,683.90 an ounce.

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners