STOCK INDEX FUTURES
Both the S&P 500 and Nasdaq 100 ended the month of February on a positive note, closing at record highs.
During the week, the S&P 500 closed higher by +0.98%, and the Nasdaq 100 performed even better, closing up +2.02%.
This increase was primarily fueled by solid earnings reports from companies like NetApp and Dell Technologies and positive sentiment surrounding artificial intelligence (AI) stocks.
For February, stock sectors were all positive. The leaders were Consumer Discretionary, Industrials, Materials, and Technology. The laggards were Utilities and Consumer Staples.
CRUDE OIL FUTURES
Oil prices hit a three-and-a-half-month high and rallied near $80 last week as market gauges continued to show signs of strength, with OPEC+ expected to extend its current supply cuts into the next quarter.
As usual, Russia plays hard to agree to the trial balloon that would have OPEC+ extend voluntary production cuts until the end of the year. Deputy Prime Minister of Russia Alexander Novak, former Russian energy Czar and former stand-in as Russian president for Putin, said it was premature to talk about the production cut extension.
Published on: Mar 24, 2024
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