The S&P 500 went down a bit. 1.33% to be exact. Landed at 6,740.02. The Nasdaq Composite followed, slipping 1.59% to 22,387.68. And the Dow? It eased off, losing 0.95% to 47,501.55. It’s all just numbers, of course. Numbers pretending to be important. So it goes.
Market Movers
Energy stocks were the exceptions. Diamondback Energy managed a small gain, up around 0.84% as crude oil nudged over $91 a barrel. Meanwhile, Day One Biopharmaceuticals saw a jump of 66% because some other company decided to buy it. A good day for those holding that stock, anyway. A temporary reprieve, naturally.
What This Means (If Anything)
The Bureau of Labor Statistics reported a loss of 92,000 jobs. Unemployment ticked up to 4.4%. And then, oil started climbing. The Middle East, you see. Always something. It’s beginning to look like stagflation is the new black. Which is to say, unpleasant and inescapable. Energy stocks like that, of course. Everyone else? Not so much.
Oil had its biggest weekly increase since 2020. Concerns about the Strait of Hormuz. Disruptions, they call it. Producers are happy. Everyone who drives a car? Not so much. It’s a simple equation, really. And the market is re-evaluating everything, as markets are wont to do. Like a nervous dog circling a new piece of furniture.
Day One Biopharmaceuticals is being bought for $21.50 a share, a total of $2.5 billion. They make therapies for people with… well, with very serious illnesses. A good thing, I suppose. Though it doesn’t solve the larger problem, does it? Nothing ever does. It just… shifts the problem somewhere else. So it goes.
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2026-03-07 01:52