The Dow fell 166 points on Monday
Stocks finished the last day of February mixed. The Dow fell 166 points to register its second-straight monthly loss. The S&P 500 was lower as well, while the Nasdaq managed to score a modest win, though both also logged a second consecutive month in the red. Russia's invasion of Ukraine continued to weigh on Wall Street, with the U.S. moving to stop several large Russian banks from using the interbank messaging system SWIFT, as investors kept an eye on talks between Russian and Ukrainian officials near the Belarus border today.
In other news, the CBOE Volatility Index (VIX) recorded its second-straight monthly win. Additionally, the 10-year U.S. Treasury yield plummeted, and U.S. trade deficit surged to a record high for the second-straight month in January.
Continue reading for more on today's market, including:
- These 2 defense stocks hit record highs today.
- Buyout buzz boosted Renewable Energy stock.
- Plus, why call traders blasted TDOC; Block stock upgraded; and 2 homebuilding stocks to watch.
The Dow Jones Average (DJI - 33,892.60) fell 166.2 points, or 0.5% for the day, and 3.5% for the month. Chevron (CVX) led the gainers with a 2.6% jump, while JPMorgan Chase (JPM) paced the laggards with a 4.2% drop.
The S&P 500 Index (SPX - 4,373.94) shed 10.7 points, or 0.2% for the day, and 3.1% for the month. Meanwhile, the Nasdaq Composite (IXIC - 13,751.40) gained 56.8 points, or 0.4% for today's session, and 3.1% for the month.
Lastly, the Cboe Market Volatility Index (VIX - 30.15) added 2.6 points, or 9.3% for the day, and 21.4% for the month.
5 Things To Know Today
- Russian business leaders are moving their superyachts to Montenegro and the Maldives, after the U.S. said it will "hunt down" and freeze their assets. (CNBC)
- Western companies, including HSBC (HSBC) and Shell (SHEL) are looking to exit Russia, as more countries tighten sanctions in response to the invasion of Ukraine. (Reuters)
- Call traders blasted Teladoc Health stock on its new partnership.
- Block stock earned an upgrade due to its revenue growth potential.
- Why Bank of America turned bullish on these 2 homebuilding stocks.
There were no earnings of note today.
Oil Prices Score Third-Straight Monthly Win
Oil prices settled higher on Monday to score another seven-year high, as well as their third-straight monthly win. Investors are still concerned that Russia's invasion of Ukraine could lead to disruptions, as sanctions weigh. They also eyed Wednesday's meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), which will determine April production levels. April-dated crude rose $4.13 , or 4.5%, to settle at $95.72 per barrel for the day, and jumped 8.6% for the month.
Gold prices were also higher, as investors continued to rush the safe-haven commodity amid Russia's invasion of Ukraine. The yellow metal also nabbed a 5.8% monthly win. For the day, April-dated gold added $13.10, or 0.7%, to finish at $1,900.70 per ounce.