March 3, 2021

March 3, 2021

Tech stocks dragged down the S&P 500 today along with rising bond yields, while names tied to an economic recovery provided the market with some support.

 

Dow Jones finished -121 at 31,270

S&P 500 finished -51 at 3,819

NASDAQ finished -361 at 12,997

 

The 10 Year Treasury closed up 5 basis points yielding 1.46%

Oil prices closed up $1.51 ending at $61.26 a barrel.

Gold prices closed down $19.80 ending at $1,713 an ounce.

 

In the days’ stock news:

 

  • Lyft closed up more than 8% after the company said the last week of February was its best week in terms of volume since pandemic lockdowns began.
  • Michaels closed up more than 22% after they agreed to be taken private in a $3.3 billion deal with Apollo Global Management. Apollo will acquire all outstanding Michaels stock for $22 per share in a tender offer.

 

 

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