(MENAFN- Baystreet)
Stocks Subside After Record-Setting Week
S&P Slip Monday After Record-Setting Week
nasdaq Achieves New Intraday Record, Surpassing '21 Mark.
NASDAQ Achieves Intraday Record
NASDAQ Aims For Another Record Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, March 4, 2024
Dow, S&P Retreat from Record Highs Advertisment
The
Dow Jones Industrial Average retreated Monday as traders took a breather from a rally that brought the major U.S. stock benchmarks to record highs.
The 30-stock
index lost 79.51 points to move into noon hour Monday at 39,007.87.
The S&P 500 inched down 2.57 points to 5,134.51.
The NASDAQ faded 43.28 points to 16,231.67.
Apple fell more than 2% after getting hit with a European Union antitrust fine of nearly $2 billion. The EU's executive arm said the technology giant misused its power as a market dominator in the music streaming distribution space.
Lyft shares climbed around 5% on the back of an upgrade to outperform from sector perform by RBC. Super Micro Computer hiked 25%, and Deckers Outdoor rallied more than 2%, following the S&P Dow Jones Indices announcement that the pair will join the S&P 500 later this month.
JetBlue rose more than 1%, while Spirit Airlines tumbled more than 14%. The airlines said Monday that they would end plans to combine, weeks after losing a federal antitrust lawsuit that jeopardized the $3 deal.
Prices for the 10-year Treasury stumbled, raising yields to 4.23% from Friday's 4.18%. Treasury prices and yields move in opposite directions.
Oil prices dropped 92 cents to $79.05 U.S. a barrel.
Gold prices surged $31.90 to $2,127.60.
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