DOW SURGES, OIL SLIDES: Here's What You Need To Know

Oil Well Fire Rig


It was kind of an indecisive, unsatisfying end to the month. That’s OK, March is going to be craaaaazy.Dow: +96.99
NASDAQ: 1.16
S&P 500: +7.07

And now, the top stories:

  • Without wasting your time, we’ll just point out that it was another crazy weekend across the Middle East/North Africa region (MENA) that saw riots spread to Oman, which caused the Saudi market to get crushed in Sunday trading.
  • Nothing too special happened in Asian trading. Shanghai and India both rose.
  • Same with European trading. The Irish market didn’t do anything too wild following the Irish election.
  • And in the US it was fairly quiet as well. Oil was up earlier, but slid on the day. Gold didn’t go anywhere. The dollar clubbed in the early going, but came back a bit. The Dow was strong, but some big momentum tech names like Netflix had a bad day.
  • There were two big economic datapoints today. Income and spending was mixed. Chicago PMI was rather strong. The news prompted Deutsche Bank to slash its GDP estimate.
  • Interesting: The Egypt ETF got crushed today, ahead of the opening of the Egyptian stock market, which is scheduled for tomorrow. Click here to see the 11 countries at risk of becoming the next Egypt >

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