--- title: "Stock Market Today: February 24, 2021" description: It was another topsy-turvy session on Wall Street yesterday, with the stock market getting off on the wrong foot again. Ultimately, the major market averages closed on a mixed note, the Dow and S&P showed nominal gains, while the NASDAQ fell into the red. As to the day ahead, the early read is for an uninspiring open when trading resumes later this morning. image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-431.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: February 24, 2021 February 24, 2021 ### **Before The Bell** It was another topsy-turvy session on Wall Street yesterday, with the stock market getting off on the wrong foot again, as the Dow Jones Industrial Average and the NASDAQ both tumbled at the open on interest rate fears. However, testimony before the Senate by Federal Reserve Chair Jerome Powell helped to assuage these concerns as he intoned that the economy was still on a slow enough path to keep interest rates at their current low levels for several years yet. This assurance helped to bring the buyers into the fray once more, so that the Dow, once off by more than 350 points, would come roaring back and rally nicely into the green at one point before setting back to show a nominal 16-point advance at the close. An almost identical pattern was woven by the S&P 500, with that index edging into the plus column as well, with a five-point ending rise. It was a slightly different story for the NASDAQ. Here, the tech-driven index would composite would tumble more than 500 points at its nadir, before ending off nearly 68 points. As to the day ahead, the early read is for an uninspiring open when trading resumes later this morning. The main influence on the day was Chairmen Powell. He seemed to ease the rate concerns somewhat, although Treasuries closed little changed. Specifically, he lowered the inflation worries, as he said in speaking before the Senate Banking Committee that a substantial recovery would likely take some time to evolve. Meantime, the recently battered technology group would come roaring back, with shares of Tesla ([TSLA](https://research.valueline.com/research#sec=company&sym=TSLA)) once off by 95 points, closing down by just 15 points. It would then rally into the evening and in the pre-market hours this morning. In economic news, the Conference Board put out its monthly report on consumer confidence, with the February reading showing a modest gain. Elsewhere, we will get data on new homes sales later this morning, while in other issuances tomorrow, we will see revised fourth-quarter GDP (the initial estimate had been reported as a 4% rate of growth) and first-time jobless claims. The week will conclude on Friday with reports on personal income, consumer spending, and consumer sentiment. Finally, on the earnings scene, The Home Depot ([HD](https://research.valueline.com/research#list=recent&sec=company&sym=hd)) delivered upbeat results and an increased dividend, but gave no forward guidance. That issue closed lower on the day. Macy's ([M](https://research.valueline.com/research#list=recent&sec=company&sym=m)) results, meanwhile, exceeded forecasts. Also, fourth-quarter same-store sales contracted less than estimated. The shares closed higher on the day. As to yields, they were nominally lower on the 10-year Treasury note, but slightly higher on the companion 30-year Treasury bond. – Harvey S. Katz, CFA *At the time of this article's writing, the author did not have positions in any of the companies mentioned.* [![Register now for our free One Stock to Buy webinar](https://no-cache.hubspot.com/cta/default/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5.png)](https://cta-redirect.hubspot.com/cta/redirect/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5) ### Popular Posts Search Search Blog ### Topics - [Investing 101 (2)](https://investor.valueline.com/blog/topic/investing-101) - [Market Commentary (37)](https://investor.valueline.com/blog/topic/market-commentary) - [Stock Highlights (390)](https://investor.valueline.com/blog/topic/stock-highlights) - [Stock Market Today (2071)](https://investor.valueline.com/blog/topic/stock-market-today) Copyright 2026 Value Line, Inc. All Rights Reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. 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