Major Indexes, Oil Futures Take a Breather

The 10-year Treasury yield also fell

Digital Content Manager
Mar 3, 2022 at 4:30 PM
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The major indexes settled lower on Thursday. The Dow struggled for direction for most the day, trading on both sides of the aisle before eventually logging a 96-point loss. The S&P 500 also cut earlier wins, while Nasdaq shaved off triple digits, weighed down by the software sector and Big Tech. Oil also settled lower -- but not before hitting its highest level since 2008. Meanwhile, the 10-year Treasury yield also took a break from its midday bounce to edge slightly lower by close. Wall Street is continuing to monitor the ongoing conflict in Ukraine, while the U.S. has imposed another round of sanctions on Russia and negotiations between the two countries continue in Belarus. 

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

  • Options bulls brush off Palantir stock's post-earnings breakdown
  • What melted Snowflake stock today. 
  • Plus, GOGO's beat-and-raise; a look at Honeywell's fundamentals; and all about cannabis real estate loans.

The Dow Jones Average (DJI - 33,794.66) lost 96.69 points, or 0.3% for the day. Walmart (WMT) led the gainers with a 2.3% jump, while Boeing (BA) was the only loser with a 4.5% drop.

The S&P 500 Index (SPX - 4,363.49) dropped 23.1 points, or 0.5% for the day. Meanwhile, the Nasdaq Composite (IXIC - 13,537.94) shed 214.1 points, or 1.6% for today's session. 

Lastly, the Cboe Market Volatility Index (VIX - 30.48) lost 0.3 points, or 0.9% for the day.

Closing Indexes Summary March 3

NYSE and Nasdaq Stats March 3

5 Things To Know Today

  1. As sanctions on Russia continue, Texas-based airline software name Sabre has joined in, announcing that it has terminated it distribution agreement with Russian company Aeroflot. (CNBC)
  2. France has seized a yacht that has been linked with Russian President Vladimir Putin's ally Igor Sechin after customs authorities carried out an inspection as part of European Union (EU) sanctions on Russia. (MarketWatch)
  3. The beat-and-raise that gave Gogo stock a boost. 
  4. Here's what Honeywell stock has to offer right now. 
  5. Cannabis sector real estate loans are eyeing big potential. 

Earnings March 3

Unusual Options Activity March 3

Oil Prices Hit Highest Level Since 2008 Before Pausing 

Oil's rally was red hot on Thursday as the commodity surged to its highest level since September 2008, before pausing and edging slightly lower by the close. A potential deal with Iran may have helped quell some of the supply fears investors have been feeling in the face of mounting geopolitical tensions, though uncertainty surrounding both situations remains high. In response, April-dated crude shed $2.93 or 2.6%, to settle at $107.67 per barrel for the day.

Gold prices swung higher on Thursday as hope for a possible resolution to the Russia-Ukraine conflict fell off. April-dated gold added $13.60, or 0.7%, to finish at $1,935.90 per ounce.

 

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