Big rally to start March | Best day since June | More stimulus soon?

MON, MAR 01, 2021

EVENING BRIEF

AS OF MON, MAR 01, 2021 • 04:50 ET

DJIA		31535.51
		+1.95%	+603.14

S&P 500		3901.82
		+2.38%	+90.67

NASDAQ		13588.83
		+3.01%	+396.48

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	127.79	+6.53	+5.39%
INTC	62.88	+2.10	+3.46%
MSFT	236.94	+4.56	+1.96%

S&P 500
NAME	LAST	CHG	%CHG
AAPL	127.79	+6.53	+5.39%
GE	13.11	+0.57	+4.55%
CCL	26.31	-0.44	-1.64%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	127.79	+6.53	+5.39%
AMD	86.39	+1.88	+2.22%
INTC	62.88	+2.10	+3.46%

EDITOR'S NOTE

Stocks roared to start off March – and shake off last week's tumult. The S&P 500 climbed 2.4%, while the Dow Jones Industrial Average added more than 600 points and broke a two-day losing streak. Meanwhile, the Nasdaq Composite rose by 3%, marking its best daily performance since Nov. 4.

The bounce back in the indexes was broad, considering how much of last week's story revolved around recovery-oriented stocks beating tech giants. All 11 sectors in the S&P 500 were positive today, led by the information technology and financial sectors.

Big tech companies – which took their lumps last week – enjoyed a lift: Apple ended the day up 5.4%, while Alphabet rose 2.4%. Small cap companies continued to shine, as the Russell 2000 index closed the day up more than 3%.

On the fixed income side, the 10-year Treasury yield inched down to 1.43%, marking a pullback from its fresh high of 1.6% last week. The ticking down in yields is responsible for some of today's broader lift in the stock market, according to CNBC's Mike Santoli. He also credits progress on the vaccine front, as well as the prospect of more federal stimulus.

Investors aren't the only ones keeping an eye on stimulus talks. Economists at Barclays want to know how Americans plan to use the cash they've squirreled away. Those plans hold the key for the economic outlook, according to Michael Gapen, chief U.S. economist at Barclays.

"U.S. households have built up a war chest of 'excess saving' of about $1.8 trillion during the pandemic, with much of it residing in highly liquid deposits," Gapen wrote in a note. "A key issue in any U.S. economic outlook is what households ultimately do with these savings."