Nasdaq closes at record high

Recap of February 29th

• The Nasdaq on Thursday hit its first new record high since 2021, ending a streak of 569 trading days without one. The other two major stock indices also rose supported by Hormel Foods shares, which rose 14% after earnings beat expectations. Advanced micro devices crossed the $300 billion market cap line for the first time. the Dow Jones Industrial Average The stock increased 47.37 points, or 0.12%, to close at 38,996.39 points. the Standard & Poor's 500 It rose 26.51 points, or 0.52%, to close at 5,096.27 points. the Nasdaq Composite The stock jumped 144.18 points, or 0.90%, to close at 16,091.92 points.

• Improving weather in South America sent US soybean futures falling to a three-year low on Thursday with further pressure from lackluster US export sales and larger-than-expected contract deliveries. Corn futures were mixed in choppy technical trading. U.S. wheat futures were mostly higher on Thursday, although deferred soft wheat futures eased under pressure from a stronger dollar, weaker spillovers from corn and soybeans, and intense competition for global exports. the May corn Future added 1 cent to close at $4.29 a half per unit. chicago May wheat 1½ cents added to settle at $5.76 per unit; The subsequent months were mixed. Kansas City May wheat 6¼¢ was added to close at $5.87 per unit. Minneapolis maybe wheat It rose 3 cents to close at $6.59 per unit. Soybean mayo It fell 4½ cents to close at $11.40 per unit. Soybean meal It added $1.70 to close at $329.20 per ton with subsequent months mixed. May soybean oil It rose 0.02 cents to close at 45.21 cents per pound.

• US crude oil Prices closed lower again on Thursday. April West Texas Intermediate Light crude oil fell 28 cents to close at $78.26 a barrel.

• the US dollar index It closed higher for the third straight session on Thursday.

• American gold Futures Advanced Thursday. The April contract added $12 to close at $2,054.70 an ounce.

Recap of February 28th

• Signs of abundant grain supplies in the Black Sea region, including in Ukraine where February grain shipments so far are up 12% year-on-year, weighed on wheat futures on Wednesday. Corn futures advanced modestly in recovery mode after recently hitting three-year lows. Soybean futures rose in short covering and technical buying moves on Wednesday. the May corn Future added 5 cents to close at $4.28 per unit. chicago May wheat It fell 9.5 cents to settle at US$5.74 per unit. Kansas City May wheat It fell 4¾ cents to close at $5.81 per unit. Minneapolis maybe wheat It gave up 6¼¢ to close at $6.56 per unit. Soybean mayo advanced 4½ cents to close at $11.45 per unit. Soybean meal It added $2.60 to close at $327.50 per ton. May soybean oil It fell 0.25 cents to close at 44.66 cents per pound.

• US stock markets fell on Wednesday under pressure from falling shares of technology giants such as Apple and Alphabet, as investors awaited new inflation data to be released on Thursday. the Dow Jones Industrial Average The stock fell 23.39 points, or 0.06%, to close at 38,949.02 points. the Standard & Poor's 500 The stock fell 8.42 points, or 0.17%, to close at 5,069.76 points. the Nasdaq Composite The stock fell 87.56 points, or 0.55%, to close at 15,947.74 points.

• US crude oil Prices closed lower on Wednesday. April West Texas Intermediate Light crude oil fell 33 cents to close at $78.54 a barrel.

• the US dollar index It closed higher for a second day on Wednesday following an eight-day losing streak.

• American gold Futures Dropped Wednesday. The April contract fell $1.40 to close at $2,042.70 an ounce.

Recap for February 27th

• US wheat futures rose across the board Tuesday in technical trading and short covering. Corn futures continued to rebound from three-year lows as lower prices sparked some demand and technical trading and short covering also provided support. Soybean prices had earlier risen on export sales of US supplies but faltered due to closing bells amid continuing intense competition from Brazil for export sales to China. the May corn Future rose 2 cents to close at $4.23 per unit. chicago May wheat 9½¢ was added to settle at $5.84 per unit. Kansas City May wheat advanced 9¼¢ to close at $5.85 per unit. Minneapolis maybe wheat 9½¢ was added to close at $6.62 per unit. Soybean mayo It fell 4½ cents to close at $11.40 per unit. Soybean meal It fell $3.70 to close at $324.90 per ton. May soybean oil It added 0.51 cents to close at 45.53 cents per pound.

• US stock markets were mixed on Tuesday. The Nasdaq neared its 2021 record high and the S&P 500 advanced. But the Dow Jones Industrial Average faltered after U.S. government data indicated a drop in consumer confidence in February, and domestic demand for durable goods, including appliances, cars and computers, fell. More than expected last month. the Dow Jones Industrial Average The stock fell 96.82 points, or 0.25%, to close at 38,972.41 points. the Standard & Poor's 500 The stock increased 8.65 points, or 0.17%, to close at 5,078.18 points. the Nasdaq Composite It rose 59.05 points, or 0.37%, to close at 16,035.30 points.

• US crude oil Prices closed higher on Tuesday. The price of April West Texas Intermediate Light crude oil rose $1.29 to close at $78.87 per barrel.

• the US dollar index It closed higher on Tuesday, snapping an eight-session losing streak.

• American gold Futures Advanced Tuesday. The April contract added $5.20 to close at $2,044.10 an ounce.

Recap of February 26th

• Corn and soybean prices rose in short covering on Monday after earlier falling to three-year lows. Wheat futures closed higher as traders adjusted their positions ahead of the first notice day on Thursday for March delivery and indirectly supported by corn and soybeans. the May corn Future rose 8 cents to close at $4.21 per unit. chicago May wheat 5¾¢ was added to settle at $5.74 per piece. Kansas City May wheat advanced 11 cents to close at $5.76 per unit. Minneapolis maybe wheat It added 6 cents to close at $6.52 per unit. Soybean mayo It rose 3½ cents to close at $11.45 per unit. Soybean meal It added 60 cents to close at $328.60 a ton, although subsequent months were mixed. May soybean oil It added 0.42 cents to close at 45.02 cents per pound.

• US stock markets fell on Monday but remained on track for gains in February. Nvidia shares, which fueled last week's rally thanks to huge earnings, continued to move higher, but it wasn't a catalyst to lift all boats. the Dow Jones Industrial Average The stock rose 62.3 points, or 0.16%, to close at 39,069.23 points. the Standard & Poor's 500 The stock fell 19.27 points, or 0.38%, to close at 5,069.53 points. the Nasdaq Composite The stock fell 20.57 points, or 0.13%, to close at 15,976.25 points.

• US crude oil Prices were lower on Monday. April West Texas Intermediate Light crude oil fell $1.09 to close at $77.58 per barrel.

• the US dollar index It fell for the eighth straight day of trading on Monday.

• American gold Futures Dropped on Monday. The April contract fell $10.50 to close at $2,038.90 an ounce.

Recap of February 23rd

• U.S. stock indexes were mixed on Friday, but all three posted weekly gains of 1.3% or more, marking a sixth weekly win in the eight weeks in 2024 so far. Support came from a rise in Nvidia shares, among other things. Shares of the artificial intelligence-focused Big Tech company rose 17% on Thursday and Friday, and its market value briefly rose above $2 trillion, after the release of an earnings report Wednesday evening that indicated quarterly sales and forecasts beat Wall Street expectations. the Dow Jones Industrial Average The stock increased 62.42 points, or 0.16%, to close at 39,131.53 points. the Standard & Poor's 500 The stock rose 1.77 points, or 0.03%, to close at 5,088.8 points. the Nasdaq Composite The stock fell 44.80 points, or 0.28%, to close at 15,996.82 points.

• Wheat complex futures fell on Friday and Minneapolis futures fell for the week. Broader grain market liquidation contributed to Friday's losses, as did signs of profit-taking and continued corn pressure. Corn futures fell below $4 for the first time since November 2020, dragged down by large US and global supplies. US weekly exports, which were at their lowest levels since May, weighed on US soybeans along with news that at least three cargo ships loaded with Brazilian supplies were scheduled to sail to the United States. the May corn Future fell 5 cents to close at $4.13 per unit. chicago May wheat It fell 10¼ cents to settle at $5.69 per unit. Kansas City May wheat It fell 6 cents to close at $5.65 per unit. Minneapolis maybe wheat It fell 8¾¢ to close at $6.46 per unit. Soybean mayo It fell 10¾ cents to close at $11.41 per unit. Soybean meal It fell $3.40 to close at $328 per ton. May soybean oil It lost 0.20 cents to close at 44.60 cents per pound.

• US crude oil Prices were lower on Friday. The price of April West Texas Intermediate Light crude oil fell $2.12 to close at $76.49 per barrel.

• the US dollar index It fell for the seventh straight session on Friday.

• American gold Futures Turned higher to close the week. The February contract jumped $18.90 to close at $2,038.60 an ounce.