Stocks Slump in Manic Monday, Low-Volume Session

Rising bond yields weighed on the tech sector

Deputy Editor
Feb 26, 2024 at 4:25 PM
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As Wall Street awaits Thursday's inflation readings, investors are keeping their cards close to the chest. A muted midday performance extended into the afternoon, as the Dow and S&P 500 took a step back from record highs, snapping three-day win streaks in the process. The former also added a new member, with Amazon.com (AMZN) replacing Walgreens Boots Alliance (WBA). Meanwhile, the tech-heavy Nasdaq fell as the 10-year Treasury note jumped to 4.301%.

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

  • Bull signal has never failed this retail stock.
  • Cloud stock has a rough post-earnings history.
  • Plus, META calls surge; GPS' upgrade; and Alcoa's latest acquisition.

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5 Things to Know Today

    1. The Federal Trade Commission (FTC) is suing to stop a $24.6 billion merger of Kroger (KR) and Albertsons (ACI). (CNBC)
    2. The U.S. Treasury held its biggest-ever auction of 5-year notes. (MarketWatch)
    3. Meta stock a call trader favorite.
    4. Bull note boosts Gap stock.
    5. Billion-dollar merger dents Alcoa stock.

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    Oil Prices Bounce Back from Weekly Loss

    Oil prices took back some of last week's losses after traders assessed crude's supply and demand outlook. For the session, April-dated West Texas Intermediate (WTI) crude gained 91 cents, or 1.4%, to finish at $77.58 per barrel.

    Gold prices fell ahead of this week's inflation data. April-dated gold lost $10.50, or 0.5%, to settle at $2,038.90 per ounce for the day.

     

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