Wall Street Clocks 4th-Straight Monthly Win

The Nasdaq finished strong in February with a record close

Deputy Editor
Feb 29, 2024 at 4:23 PM
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Today's inflation reading had stocks all over the board, but ultimately Wall Street finished confidently in the black, helping all three major indexes lock in their fourth-straight monthly win. The Nasdaq scored a record close today and led the major benchmarks in February,, while the Dow snapped a three-day slump and locked up its best monthly streak since May 2021. Elsewhere, the Cboe Volatility Index (VIX) turned in its worst monthly percentage loss since November 2023.

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

  • 2 cloud stocks making very different moves today.
  • Everything you need to know about short put spreads.
  • Plus, a retail stock to watch next week; DUOL's surge; and BBY's winning run.

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5 Things to Know Today

    1. According to a top trade office at the Department of Homeland Security, the White House is worried about the China's manufacturing presence in key U.S. ports. (CNBC)
    2. The U.S. House voted to avert a government shutdown. (MarketWatch)
    3. Red-hot retail stock readies for earnings.
    4. Behind Duolingo's beat-and-raise.
    5. Best Buy stock extended its winning streak.

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    Black Gold Logs Back-to-Back Monthly Wins

    Oil prices logged their second-straight month of gains amid a ongoing global supply fears, adding 3.2% in February. For the session, however, April-dated West Texas Intermediate (WTI) lost 28 cents, or 0.4%, to finish at $78.26 per barrel.

    Gold futures lost 0.6% this month, but April-dated gold added $12, or 0.5%, to settle at $2,054.70 per ounce for the day.

     

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