Nasdaq, S&P 500 Fall as Bond Yields Tick Higher

The 10- and 1-year Treasury yields surged midday

Deputy Editor
Mar 1, 2023 at 4:28 PM
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Wall Street took another step back Wednesday, as bond yields extended their February rise. The 10-year Treasury yield topped 4% for the first time since November, while the 1-year yield moved above 5%, though both pulled back before the session's end. In response, the S&P 500 and Nasdaq both logged modest losses, while the Dow eked out a fractional win. Nevertheless, the Cboe Volatility Index (VIX) fell for the third-straight day.

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

  • Avoid these two bank stocks in March.
  • What weighed on Lowe's stock today?
  • Plus, 2022's best options trades; NVAX at two-year lows; and AMC calls pop.

closing summary mar1

nyse nasdaq Mar1

5 Things to Know Today 

  1. Mortgage demand from homebuyers fell for a third-straight week, hitting a 28-year low. (CNBC)
  2. Lawmakers are considering a plan to raise the full retirement age to around 70 years old. (MarketWatch
  3. The best performing stocks for options traders since 2022.
  4. It's not looking good Novavax stock.
  5. Why call traders blasted AMC stock today.

Earnings Mar1

UVOL Mar1

Oil Prices Close Near 2-Week High

Oil futures closed at their highest level in nearly two weeks, following a 10th straight weekly rise in crude inventories. April-dated crude futures tacked on 64 cents, or 0.8%, to close at $77.69 per barrel.

Following their worst month since 2021, gold prices turned in a win Wednesday. For the session, April-dated gold futures added $8.70, or roughly 0.5%, to settle at $1,845.40 per ounce.

 

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