On the broad market, the S&P 500 index fell by 1.22 percent to 5,778.15. Throughout the day, the S&P 500 index traded within a range of -2.00 percent at its lowest and 0.26 percent at its highest.
The tech-heavy Nasdaq Composite declined by 0.35 percent to 18,285.16. The index moved within a range of -2.14 percent at its lowest and 1.30 percent at its highest during the day.
In terms of sectors, IT showed the best performance, up by 0.01 percent, while finance recorded the weakest performance, down by 3.54 percent.
Electric car manufacturer Tesla saw a decrease in sales in China even during February, according to data from the China Passenger Car Association. Tesla delivered 30,688 China-made cars during the month, a 49.2 percent decrease from the previous year. The stock dropped by 4.4 percent.
Amazon is currently developing a new AI model in-house with advanced reasoning capabilities to compete with OpenAI and Anthropic, as reported by insiders for Business Insider. The model will be part of Nova, an umbrella brand for a group of generative AI models, and is expected to be launched in June. The stock declined by 0.6 percent.
American pharmacy giant Walgreens Boots Alliance is close to finalizing a deal with private equity firm Sycamore Partners for a buyout worth $10 billion, according to sources cited by the Wall Street Journal. The agreement could be completed as early as Thursday, provided there are no last-minute issues. The stock rose by 5.6 percent.
The yield on the U.S. ten-year bond increased by 5 basis points to 4.20 percent. This morning, the yield is at 4.24 percent.
Brent oil dropped by 0.81 percent to $71.04, while WTI oil decreased by 0.16 percent to $68.26. Brent is currently at $70.84, and WTI is at $67.71.
The price of gold (futures) rose by 0.67 percent to $2,920.60. Today, gold stands at $2,921.00.
The dollar weakened to 1.0627 against the euro, from 1.0488 the previous day. Today, the dollar is at 1.0621. One dollar costs 10.4338 Swedish kronor today, compared to 10.4238 on the previous trading day.
Looking at the index performance:
– DJIA 30: 42,520.99 (-1.55% today, -0.05% year to date)
– S&P 500: 5,778.15 (-1.22% today, -1.76% year to date)
– Nasdaq Composite: 18,285.16 (-0.35% today, -5.31% year to date)
– TSE (Toronto): 24,572.00 (-1.72% today, -0.63% year to date)
Sector-wise performance:
– Consumer Discretionary: 1,663.36 (-1.67% today, -9.16% year to date)
– Consumer Staples: 907.45 (-1.78% today, 6.30% year to date)
– Energy: 659.92 (-0.86% today, 0.78% year to date)
– Financials: 829.00 (-3.54% today, 3.05% year to date)
– Healthcare: 1,724.32 (-0.93% today, 7.45% year to date)
– Industrials: 1,113.56 (-1.96% today, -0.19% year to date)
– Materials: 538.96 (-1.38% today, 1.73% year to date)
– Real Estate: 269.84 (-1.21% today, 5.44% year to date)
– Information Technology: 4,256.34 (0.01% today, -7.66% year to date)
– Utilities: 394.47 (-1.71% today, 2.47% year to date)
– Telecommunications: 342.77 (-0.40% today, 0.32% year to date)
Source: Factset
This comprehensive overview of the market trends and stock performances provides valuable insights into the current financial landscape. From the fluctuations in tech stocks to the developments in the energy sector, investors and analysts can gain a deeper understanding of the forces driving the market. As the global economy continues to evolve, staying informed about these key indicators is essential for making informed investment decisions.