Stock market today
A mixed close for the US stock market today. The major them this week was the surge in bond yields, as the 10-yr bond yield rose to 1-year highs near 1.60%. Tech stocks recovered today but trimmed their earlier gains. Dow tumbled 1.50%. The closing numbers for the US stock market today follow.
S&P 500: 3,811.15,-18.19(-0.48%)
Dow 30: 30,932.37,-469.64(-1.50%)
Russell 2000: 2,201.05,+0.88(+0.04%)
The Treasury Yield 10 Years (^TNX) today closed at 1.4600-0.0580 (-3.82%).
Stock market news
“Wall Street stocks ended mixed on Friday, with battered technology shares recovering some declines amid encouraging data, though fears of rising interest rates caused investors to take fright.
The Nasdaq traded 0.6% higher, paring losses at the end of the week. However, the index still posted a weekly loss of 4.9% for its worst since October as tech stocks unwound some of their steep 2020 gains this week, as benchmark Treasury yields spiked to their highest levels since January 2020. The rise in rates are tied to a range of corporate and consumer borrowing costs, and may undermine the recovery if they jump too quickly.
The S&P 500 ended about 0.5% lower while the Dow shed 475 points, or 1.5%, at the end of Friday’s session. The indexes posted gains of 2.6% and 3.2% for February, thanks to a rally earlier in the month. The Nasdaq’s monthly gain was just under 1%.
On Friday, the U.S. House of Representatives is anticipated to pass a $1.9 trillion COVID-19 stimulus package, which would include measures in President Joe Biden’s original proposal like $1,400 direct checks to most Americans, $400 per week in augmented federal unemployment insurance and $350 billion in state, local and tribal government relief. The bill would then head to the U.S. Senate, with many lawmakers aiming to pass the bill before a mid-March cliff for when current pandemic-era benefits are set to expire.
Meanwhile, shares of Airbnb (ABNB) rose more than 10% after the company reported better-than-expected sales in the fourth quarter, despite ongoing pressure to the travel industry because of the coronavirus pandemic. But shares of DoorDash (DASH), another newly public company that debuted earnings results after market close, sank more than 3%, after the food delivery company posted widening net losses and said the outlook this year was “highly uncertain” as in-person restaurants begin to reopen.
A rapid rise in Treasury yields this week has deterred investors from risk assets, as the specter of rising borrowing costs for companies and a jump in inflationary pressures mounted. The yield on the benchmark 10-year note jumped to a fresh one-year high of as much as 1.6% on Thursday before cutting some gains.”
Stock market data: Yahoo Finance
Some trending stocks today, all stock quotes, stock prices as of the close of the US stock market today.
Fisker Inc. (FSR): 28.50+6.92 (+32.07%)
OS Limited (SOS): 4.7700-1.2700 (-21.03%)
Virgin Galactic Holdings, Inc. (SPCE): 37.23-5.01 (-11.86%)
Ocugen, Inc. (OCGN): 10.95+2.95 (+36.87%)