February 26, 2021

February 26, 2021

Wall Street closed mixed today, with battered technology shares recovering some declines with encouraging data, as fears of rising interest rates caused investors to panic.

 

Dow Jones finished -470 at 30,932

S&P 500 finished -18 at 3,811

NASDAQ finished +73 at 13,192

 

The 10 Year Treasury closed down 11 basis points yielding 1.40%

Oil prices closed down $1.90 ending at $61.63 a barrel.

Gold prices closed down $45.90 ending at $1,729 an ounce.

 

In the days’ stock news:

 

  • DraftKings closed up more than 6% after it both reported stronger-than-expected quarterly sales and hiked its full-year revenue forecast. DraftKings said users are more frequently access its platforms thanks to marketing campaigns and continued legalization of sports gambling.
  • Airbnb closed up more than 13% after Airbnb posted its first quarterly update as a publicly traded company. Airbnb reported a $3.89 billion loss, although revenue did beat expectations.

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