The Dow managed a fractional win
Wall Street took another step back Wednesday, as bond yields extended their February rise. The 10-year Treasury yield topped 4% for the first time since November, while the 1-year yield moved above 5%, though both pulled back before the session's end. In response, the S&P 500 and Nasdaq both logged modest losses, while the Dow eked out a fractional win. Nevertheless, the Cboe Volatility Index (VIX) fell for the third-straight day.
Continue reading for more on today's market, including:
- Avoid these two bank stocks in March.
- What weighed on Lowe's stock today?
- Plus, 2022's best options trades; NVAX at two-year lows; and AMC calls pop.
5 Things to Know Today
- Mortgage demand from homebuyers fell for a third-straight week, hitting a 28-year low. (CNBC)
- Lawmakers are considering a plan to raise the full retirement age to around 70 years old. (MarketWatch)
- The best performing stocks for options traders since 2022.
- It's not looking good Novavax stock.
- Why call traders blasted AMC stock today.
Oil Prices Close Near 2-Week High
Oil futures closed at their highest level in nearly two weeks, following a 10th straight weekly rise in crude inventories. April-dated crude futures tacked on 64 cents, or 0.8%, to close at $77.69 per barrel.
Following their worst month since 2021, gold prices turned in a win Wednesday. For the session, April-dated gold futures added $8.70, or roughly 0.5%, to settle at $1,845.40 per ounce.