What's Moving The Market Wednesday?

Indices Around The Globe

• S&P 500 Futures declined below 3,830, marking new intraday lows.
• U.K.'s FTSE 100 moved 25 points higher to near 6,613
• Japan's Nikkei moved 176 points higher to near 29,584

Bonds

• 10-year treasury yield at 1.41%

Commodities

• Crude oil up 2.46% to near $61.23/barrel
• Gold down 1.39% to near $1,710/oz
• Silver down 2.45% to near $26.06/oz

Crypto

• Bitcoin up 4% over the last 24 hours to around $50,906

Top News

• ADP employment data for the month of February showed a decrease in employment. 117,000 was the updated number, compared to 174,000 for January.
• DraftKings (NASDAQ: DKNG) announced a strategic agreement with DISH Network (NASDAQ: DISH) to offer the DraftKings sportsbook directly to DISH customers nationwide.
• U.S. EIA crude oil inventories for the week ending Feb. 26 showed a build of 21 million barrels, compared to a prior build of 1 million barrels.
• Ocugen's (NASDAQ: OCGN) vaccine partner Bharat Biotech said its vaccine shows 81% efficacy. Crude oil inventories rose by the most recorded since 1982
• The Federal Reserve issued an update in the U.S. economy with their Beige Book report.
• New York Governor Andrew Cuomo held a press conference to update the state's COVID-19 situation. Domestic travelers into New York state will no longer need to quarantine. Cuomo also announced loosening of outdoor gathering restrictions, to take effect on March 22, 2021.
• German Chancellor Angela Merkel announced an extension of COVID-19 curbs until March 28, 2021.