Wall Street Posts February Losses on Shaky Fed Policy

Wall Street posted a losing session, and all three indexes logged steep declines for February, pulling back from a strong start to the year. The 10-year Treasury yield surged to its highest level since November today, as investors continue to weigh the impact of a higher-for-longer interest rate policy. Wall Street's "fear gauge," the Cboe Volatility Index (VIX), meanwhile, logged a healthy monthly win.

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

• Sporting goods stock brushed off a downgrade.
• This luxury fashion stock could reward call traders.
• Plus, DISH's double downgrade; and breaking down 2 earnings reports.

5 Things to Know Today 

1. Mexican President Andres Manuel Lopez Obrador said Tesla (TSLA) will build a new plant in Monterrey, Mexico. (CNBC)
2. U.S. President Joe Biden is expected to nominate Julie Su as his next labor secretary. (MarketWatch) 
3. Dish Networks stock dinged by double downgrade.
4. Here's how Target's quarterly report played out.
5. Why analysts targeted Zoom Video stock.

Gold, Oil Post Daily Gains, Lose for Month

Oil futures rallied today, but logged a 2.3% dip in February to lock in its fourth-straight monthly loss. Black gold was pressured down by a warm weather in the U.S. and Europe, as well as mixed inflation data and hawkish Fed commentary. Still, for the session, April-dated crude futures tacked on $1.37, or 1.8%, to close at $77.05 per barrel.

Gold prices rose Tuesday, but still posted a 5.6% monthly loss -- its largest such decline since June 2021 -- as inflation and a higher-for-longer interest rate hike outlook weighed on the precious metal. On Tuesday, April-dated gold futures added $11.80, or roughly 0.7%, to settle at $1,836.70.