Stock Market Volatility Persists Amid Rising Bond Yields, Middle East Conflict Fears

Market Update - March 24

Key Figures:

• Dow Jones Industrial Average: up 0.18% to 46,291.07
• S&P 500: down 0.02% to 6,579.67
• Nasdaq Composite: down 0.47% to 21,844.47

Wall Street's main indexes experienced volatility on Tuesday, with the Dow Jones Industrial Average rising 0.18% to 46,291.07, the S&P 500 losing 0.02% to 6,579.67, and the Nasdaq Composite falling 0.47% to 21,844.47. The market's performance was influenced by rising oil prices and U.S. Treasury yields, as well as concerns over the Middle East conflict.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Sector Performance:

• Energy: led gains with a 2.2% advance
• Communication Services: down 1.9%
• Technology: down 0.4%

Company News:

• Jefferies: up 3% after a report that Japan's Sumitomo Mitsui Financial Group (SMFG) is working on plans for a possible takeover
• Ares Management: limited redemptions at its private credit fund, along with Apollo Global Management, due to high withdrawal requests
• Estee Lauder: down 10% after announcing talks for a potential merger with Puig Brands

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Economic Indicators:

• U.S. Business Activity: slowed to an 11-month low in March, according to a survey
• Inflation Jitters: revived by higher oil prices, complicating the interest rate outlook for central banks

Forecasts:

• Barclays: raised its 2026 year-end target for the S&P 500 index to 7,650 from 7,400, citing stronger earnings expectations

Trading Activity:

• Declining Issues: outnumbered advancers by a 1-to-1 ratio on the NYSE
• New Highs/Lows: 139 new highs and 167 new lows on the NYSE, and 2,019/2,632 on the Nasdaq