Market Talk – Monday, March 1

In good news for both Boeing and the transportation sector, United Airlines purchased 25 737 Max planes. United Airlines Chief Commercial Officer Andrew Nocella said that the airline is preparing for “the future and the return of demand.” Although the jets are not set to be delivered until 2023, the airline sped up the delivery of 40 other 737 Max jets to 2022, which sheds some optimism on the future of travel.

US manufacturing reached a three-year high in February. as reported by the Institute for Supply Management (ISM). The ISM’s index for factory activity reached 60.8 last month, which is up from a reading of 58.7 in January.

US Market Closings:

  • Dow advanced 603.14 points or 1.95% to 31,535.51
  • S&P 500 advanced 90.67 points or 2.38% to 3,901.82
  • Nasdaq advanced 396.48 points or 3.01% to 13,588.83
  • Russell 2000 advanced 74.27 points or 3.37% to 2,275.32

Canada Market Closings:

  • TSX Composite advanced 239.36 points or 1.33% to 18,299.62
  • TSX 60 advanced 14.47 points or 1.35% to 1,087.89

Brazil Market Closing:

  • Bovespa advanced 299.66 points or 0.27% to 110,334.83

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil decreased 1.08 USD/BBL or -1.76% to 60.4200
  • Brent decreased 0.97 USD/BBL or -1.51% to 63.4500
  • Natural gas increased 0.008 USD/MMBtu or 0.29% to 2.7790
  • Gasoline decreased 0.0122 USD/GAL or -0.63% to 1.9383
  • Heating oil decreased 0.0284 USD/GAL or -1.54% to 1.8147
  • Top commodity gainers: Orange Juice (2.20%), Canola (1.87%), Soda Ash (3.26%) and Coal (2.16%)
  • Top commodity losers: Sugar (-7.76%), Coffee (-4.60%), Tin (-6.46%), and Lumber (-2.17%)

The above data was collected around 16:36 EST on Monday.

BONDS:

Japan 0.15%(-2bp), US 2’s 0.00%(-0.02%), US 10’s 1.43%(-3bps); US 30’s 2.00%(+0.02%), Bunds -0.30% (-0bp), France -0.06% (-5bp), Italy 0.67% (-10bp), Turkey 12.84% (-14bp), Greece 1.01% (-10bp), Portugal 0.22% (-10bp); Spain 0.34% (-4bp) and UK Gilts 0.75% (-8bp).

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Disclosure: None.

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