US stock market
A battle between sellers and buyers today, with momentum favoring stocks to buy, rather than stocks to sell. As of 3:10 PM, Monday, March 2, 2020 Eastern Time (ET) this is the latest US stock market update:
S&P 500: 3,017.56,+63.34(+2.14%)
Dow 30: 26,094.02,+684.66(+2.69%)
Russell 2000: 1,489.54,+13.11(+0.89%)
Crude Oil: 46.71,+1.95(+4.36%)
Treasury Yield 10 Years (^TNX) is at 1.0800-0.0470 (-4.17%).
Stock market commentary
Vix is declining today at 36.85,-3.26(-8.13%). Therer is still a mometum to buying bonds as the 10-yr bond yield is down more than 4% today, one hour before the close of the stock market trading session. Small-cap stocks are not in favor, as Russell 2000 index is a laggard today gaining only about 0.7% comapred to the 2% gains of all other major US stock market indices. The stock market rally is a pause to the previous week’s sell-off, but it is too early to claim that a bottom has been made. It couls be a short squeeze today in the stock market.
Forty Seven, Inc. (FTSV) is gaining today and is at 93.74+35.74 (+61.62%) as the company is examining a buyout offer made by Gilead Sciences Inc.(GILD).
“Gilead to Buy Forty Seven for $4.9 Billion for Cancer Drug”, Source: https://finance.yahoo.com/news/gilead-buy-forty-seven-4-122708715.html
Stock market data: Yahoo Finance