Tag: Commodities

March 4th, 2020 : Stock Market Crashing, here’s why.

March 4, 2021

Indices Around The Globe

  • S&P 500 Futures moved below 3,780 for the first time since late January, down 1.25% for the trading session.
  • UK’s FTSE 100 down 0.37% to near 6,650
  • Japan’s Nikkei 225 down 2.13% to near 28,930

Bonds

  • 10-year treasury yield at 1.55%

Commodities

  • Crude oil up 4.72% to near $64.17/barrel, highest in over a year.
  • Gold down 0.91% to near $1,699/oz
  • Silver down 2.92% to near $25.40/oz

Crypto

  • Bitcoin down 4.95% over the last 24 hours to near $48,067

Top News

  • Federal Reserve Chairman Jerome Powell spoke on the state of the U.S. economy at the Wall Street Journal’s Jobs Summit
  • U.S. Initial Jobless Claims data for the last week of February showed a week-over-week increase in new unemployment.
  • U.S. Senate plans to vote on President Joe Biden’s COVID-19 plan at 1 p.m. on Thursday.
  • Costco (NASDAQ:COST) reported worse-than-expected Q2 EPS results. The stock moved lower in after-hours trade.
  • Slack (NYSE:WORK) reported better-than-expected Q4 earnings results. The stock moved slightly higher in after-hours trade.
  • Connecticut’s Governor, Ned Lamont, made an announcement to ease some COVID-19 restrictions in the state. Beginning Friday, March 19, capacity limits will be eliminated for restaurants, retail stores, libraries, and personal services businesses. Face masks, social distancing, and other cleaning protocols will remain in force.

Preview for Friday, March 5

  • Nonfarm Payrolls – 8:30 a.m. EST
  • Unemployment Rate – 8:30 a.m. EST
  • Federal Budget – 2 p.m. EST
  • Baker Hughes Total Rig Count – 1 p.m. EST