Market Review: March 04, 2026
Closing Recap
| Index | Up/Down | % Change | Last |
|---|---|---|---|
| DJ Industrials | 227.71 | 0.49% | 48,738 |
| S&P 500 | 52.83 | 0.78% | 6,869 |
| Nasdaq | 290.79 | 1.29% | 22,807 |
| Russell 2000 | 27.66 | 1.06% | 2,636 |
Market Overview
US equities initially faded overnight but rebounded following a New York Times report indicating that Iranian operatives from the Ministry of Intelligence reached out to the CIA to discuss terms to end the ongoing conflict. By mid-morning, stocks had extended their gains, with a breadth favoring advancers by just over 2:1. Small caps showed mixed performance compared to large caps, with the IWM up 1.08% versus the SPY up 0.78% and QQQ up 1.51%.
Sector Performance
Sector performance was mixed, with seven sectors gaining and four declining. Notable outperformers included Consumer Discretionary and Technology, both up 1.62%, while Real Estate, Consumer Staples, and Energy lagged behind.
Economic Data
- ADP National employment report showed an increase of 63,000 private sector jobs in February, surpassing the forecast of 50,000.
- S&P Global February final composite PMI was reported at 51.9, slightly below the estimate of 52.3.
- ISM non-manufacturing PMI came in at 56.1, above the consensus of 53.5.
Commodities and Currencies
Gold futures gained slightly, settling at $5,134.70 per ounce, while WTI crude futures experienced modest fluctuations, settling at $74.66 per barrel. The U.S. Treasury yields rose for the third consecutive session, reflecting concerns over inflation and monetary policy amidst the ongoing conflict in Iran.
Sector News Breakdown
Retail and Consumer Staples
Apparel retailer ANF reported Q4 EPS of $3.68, beating estimates, but provided a weaker Q1 outlook. Off-price retailer ROST also reported strong comparable sales growth.
Energy Sector
Goldman Sachs raised its price forecast for Brent crude to $76 per barrel, citing geopolitical tensions affecting supply. UBS also adjusted its near-term oil price forecasts upward due to the ongoing conflict in the Middle East.
Financials and Crypto
Bitcoin prices surged over 8% as fears surrounding the Iran conflict eased, with President Trump advocating for cryptocurrency legislation.
Conclusion
As the market navigates through geopolitical tensions and economic data, investors remain cautious yet optimistic, with a focus on sector performance and potential volatility in the coming days.