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 (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.



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.



    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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