March 18, 2021

March 18, 2021

Technology shares led the S&P 500 lower today as a spike in bond yields fueled fears of equity valuations and caused investors to sell growth-focused high flyers.

 

Dow Jones finished -153 at 32,862

S&P 500 finished -59 at 3,915

NASDAQ finished -409 at 13,116

 

The 10 Year Treasury closed up 7 basis points yielding 1.71%

Oil prices closed down $5.39 ending at $59.21 a barrel.

Gold prices closed up $6.00 ending at $1,733 an ounce.

 

In the days’ stock news:

 

  • Lyft closed flat despite the company stating that it recorded the most riders in a single week since the pandemic began. The company also logged positive year-over-year growth in daily ridership for the first time in a year.
  • AMC Entertainment closed up more than 2% after the company announced that 98% of its U.S. theaters will be open beginning Friday. By March 26, 99% of its locations will be reopened.

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