Top 3 Reasons Markets were Mixed on MLB Opening Day
Markets closed mixed on Wall Street: DJI -0.25% SP500 -0.18% Nasdaq +0.15% Gold +1% Oil +2.21%.
Markets chopped around all day as MLB.com apps invaded trading stations in the US. All eyes are now on tomorrow’s widely-watched BLS unemployment announcement at 8:30AM EST.
Today’s markets were mixed because:
1) Money managers closed their books for the quarter. In fact, seems like most are already on spring break or enjoying opening day of Major League Baseball. Check out which 10 stocks had the best performance in the S&P 500 this quarter.
2) Commodities (NYSE:RJA) popped. If you travel or eat, today was miserable. Oil (NYSE:USO) hit new highs over $106 on continued battle in the Middle East. The USDA issued their Prospective Plantings report and missed expectations for higher supplies. The oil news hurt shares of Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), while the food price news was great for Deere (NYSE:DE), Potash (NYSE:POT), and Agrium (NYSE:AGU). Don’t Miss: The Full USDA Prospective Plantings Report and Related Stocks.
3) A few technology (NASDAQ:QQQ) companies made hilarious headlines. The pot called the kettle black as Microsoft (NASDAQ:MSFT) decided to file an antitrust complaint against Google (NASDAQ:GOOG). Google shareholders didn’t notice as the stock rose over 4% today. On the other hand, A Handful of NASDAQ Stocks Some Investors Are Fleeing Today.
Now that you’re in the know, time to get to your Major League Baseball opening day games!