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S&P Closes Below 200-Day Moving Average | Closing Bell
Youtube· 2026-03-24 20:26
Market Overview - Oil prices are experiencing an increase, with Brent crude up by 3.6% and WTI up by 4.4% despite comments regarding the end of the war in Iran [2][3] - Gold is on a record daily losing streak, marking its 10th consecutive day of losses, currently down about 19% from its all-time high in January [4][5] Stock Performance - The Dow Jones Industrial Average closed down more than 80 points (approximately 0.2%), while the S&P 500 fell by 25 points (about 0.4%), closing below the 200-day moving average [5][6] - The Nasdaq composite decreased by about 0.8%, whereas the Russell 2000 index saw a slight increase of 0.5% [6] Sector Performance - Energy sector outperformed, rising by approximately 2%, while communication services saw a decline of about 2.5% [7][8] - Overall, seven sectors finished in positive territory, while four sectors ended in the red [7] Notable Gainers - Coal stocks surged, with Peabody Energy up by 8%, Core Natural Resources gaining over 6%, and Alpha Metallurgical Resources increasing by almost 9% [9][10] - Janus Henderson's stock rose by 2.7% following an increased bid from Trian Fund Management to fend off a competing offer [12] Notable Decliners - The iShares Tech Software ETF fell by 4.3% due to reports of job cuts and automation developments within the sector [13][14] - Uber's shares dropped by about 3.7% amid reports of its potential acquisition of a German premium chauffeur service [15] - Circle Internet Group's stock plummeted by over 20% due to concerns about stablecoin regulation and competition [16][17] Yield and Earnings - The yield curve saw a parallel shift higher, with the two-year yield increasing by about seven basis points and the 30-year yield up by 3 to 4 basis points [18] - GameStop reported fourth-quarter net sales of $1.1 billion, a decline of 14% year-over-year, with shares fluctuating in after-hours trading [20][21]