Stocks and Treasury yields started the day slightly lower. Stocks were nudging higher in early trading and Treasury yields were heading lower as once again 30-year Treasury yields have their sights on 2.2%.
Redbook same-store weekly brick-and-mortar retail sales fell -17.2% from this time last month and rose +10.6% from this time last year. The month-over-month data is inaccurate due to stores being closed during the pandemic shut down.
The Job Openings and Labor Turnover Survey (JOLTS) showed 7.367 million job openings in February, a very strong number, and January’s openings were revised higher.
Stocks closed slightly lower on the day. Treasury yields closed lower on the day as 30-year Treasury yields came closed near 2.3% and are looking towards 2.2%.
The American Petroleum Institute reported crude oil inventories as Crude: -2.618mm, Cushing: -84k, Gasoline: +4.553mm, and Distillates: +2.81mm. Crude oil fell in after-hours trading following the report.