Wall Street Slumps as Inflation Gauge Looms

The Dow is mired in a three-day slump, while the Nasdaq shed triple digits today

Deputy Editor
Feb 28, 2024 at 4:26 PM
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Wall Street has fallen victim to profit taking since nabbing record highs all around on Friday. Despite a mostly upbeat GDP report, the Dow logged a third-straight loss, while the tech-heavy Nasdaq logged its fourth loss in the last five trading days. Now, all eyes turn to the personal consumption expenditure reading for January -- the Federal Reserve's favorite inflation gauge -- due out tomorrow. 

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

Closing Indexes Summary Feb 28

NYSE and Nasdaq Stats Feb 28

5 Things to Know Today

    1. Mitch McConnell will step down as Senate leader in November (MarketWatch)
    2. Bitcoin (BTC) surpassed the $63,000 mark for the first time since November 2021. (CNBC)
    3. What large caps outperforming small caps could mean.
    4. Pharma stock fell after big earnings miss.
    5. Is Beyond Meat stock a massive short squeeze candidate?

    earningsfeb28

    Unusual Options Activity Feb 28

    Oil, Gold Futures Fall

    Oil futures fell after government data showed domestic commercial-crude inventories rose for a fifth-straight week. For the session, April-dated West Texas Intermediate (WTI) lost 33 cents, or 0.4%, to finish at $78.54 per barrel.

    Gold futures were slightly lower as well, with April-dated gold shed $1.40, or 0.07%, to settle at $2,042.70 per ounce.

     

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