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Dow, S&P Dip as D.C. Drama Grips Wall Street

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It was another session of choppy trading on Wall Street, with the Dow settling the day in the red. While the Nasdaq managed to move higher, the S&P 500 failed to gain momentum, stalling out just below the closely watched 2,800 level . Traders did their best to monitor the concurrent congressional testimonies of Fed Chair Jerome Powell, U.S. trade representative Robert Lighthizer, and President Donald Trump's former lawyer Michael Cohen. Outside of the States, President Trump's meeting with North Korea's Kim Jong Un made headlines, as did escalating tensions between India and Pakistan .

Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJI - 25,985.16) lost 72.8 points, or 0.3%, putting it in the red for the week. Sixteen of 30 Dow components closed in the red, and the biggest loss was 4.9% from UnitedHealth ( UNH ). Boeing ( BA ) had the best day, adding 2%, and Goldman Sachs ( GS ) closed flat.

The S&P 500 Index (SPX - 2,792.38) dipped 1.5 points, or 0.05%, while the Nasdaq Composite (IXIC - 7,554.51) grabbed a 5.2-point, or 0.1%, win.

The Cboe Volatility Index (VIX - 14.70) lost 0.5 point, or 3.1%.

us stock market closing prices feb 27
nyse and nasdaq stats feb 27

5 Items on our Radar Today

  1. Debt held by American farmers has jumped to levels not seen since the 1980s. The demand for loans has grown in an environment of lower commodity prices, increased storm damage, and the loss of key export markets amid the U.S.-China trade war. ( Reuters )
  2. Following in-step with Amazon, FedEx just revealed the FedEx SameDay Bot . The tiny delivery robot is meant to specialize in navigating the final mile or so to a customer's house. ( USA Today )
  3. This signal says to stay with GLUU .
  4. Planet Fitness analysts think the post-earnings rally has legs.
  5. The retailer that had one of its best days in years .
corporate earnings feb 27
unusual options volume feb 27

Data courtesy of Trade-Alert

Oil Jumps on Inventory Surprise

Government data showing a surprise 8.6-million-barrel drop in U.S. crude inventories propelled oil prices higher today. April-dated crude futures rose $1.44, or 2.6%, to $56.94 per barrel.

Gold prices slipped despite the weakness in equities. Gold for April delivery settled down $7.30, or 0.6%, at $1,321.20 an ounce.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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