March 5, 2021

March 5, 2021

U.S. stocks reversed from a sharp sell-off and closed higher today as a rally in bond yields eased, while a stronger-than-expected jobs report boosted optimism for a faster economic reopening.

 

Dow Jones finished +572 at 31,496

S&P 500 finished +73 at 3,841

NASDAQ finished +197 at 12,920

 

The 10 Year Treasury closed up 1 basis point yielding 1.55%

Oil prices closed up $2.41 ending at $66.24 a barrel.

Gold prices closed down $2.80 ending at $1,698 an ounce.

 

In the days’ stock news:

 

  • IMAX jumped more than 18% after the company said it expects better results this year with consumers returning to theatres.
  • Norwegian Cruise Line dropped 12%, underperforming other struggling cruise names, after the company announced another share offering. The company is selling about 47.6 million shares for $30 per share.

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