Food Delivery Stock Dashed by Outlook

The three major indexes scored modest monthly wins

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Schaeffer's Market Recap
2/26/2021
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Dow, S&P 500 Dragged Lower as Nasdaq Bounces Back


By: Fernanda Horner

Stocks wrapped up the last trading session of February in volatile fashion, with some investors turning bullish after personal consumption expenditures data eased inflation fears. The Dow sank deeper into the red to register a roughly 470-point loss, though, as the 10-year Treasury yield hovered around 1.5%. Meanwhile, the S&P 500 turned lower in the final hour of trading, while the Nasdaq surged as investors jumped back on tech giants such as Apple (AAPL) and Facebook (FB). Despite notching modest monthly gains, all three major indexes walked away with weekly losses.

Elsewhere, investors ae expecting the House to pass U.S. President Joe Biden's $1.9 trillion coronavirus relief plan -- which includes $1,400 direct payments to Americans -- so that it can be sent to the Senate. They are also patiently waiting for the approval of Johnson & Johnson's (JNJ) Covid-19 vaccine.

Continue reading for more on today's market, including:

  • DoorDash stock dipped after predicting fewer deliveries.
  • This electric vehicle name slipped due to founder controversy.
  • Plus, why bulls bit into Beyond Meat stock; ABNB draws analyst attention after earnings debut; and the e-commerce concern beating estimates.
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