March 2, 2022

March 2, 2022

Stocks closed up today despite a surge in oil prices and treasury yields.

 

Dow Jones finished +596 at 33,891

S&P 500 finished +80 at 4,386

NASDAQ finished +220 at 13,752

 

The 10 Year Treasury closed up 19  basis points yielding 1.90%

Oil prices closed up $8.07 ending at $111.48 a barrel.

Gold prices closed down $16.00 ending at $1,928 an ounce.

 

In the days’ stock news:

 

  • Ross closed up 6% following a fourth-quarter earnings beat. The off-price retail giant reported earnings of $1.04 per share on revenue of $5.02 billion. Analysts expected earnings of 87 cents per share on revenue of $4.96 billion.
  • Ford closed up 8.4% after the company said it plans to separate its electric vehicle and legacy businesses. The move is expected to streamline the company’s growing electric vehicle business and maximize profits. The automaker plans to breakout financial results for both units, and its Ford+ business, by 2023.

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