Stock Market Today: RIVN Hits New Low, DOJ Suing To Block JBLU & SAVE Merger

Stock fell as Jerome Powell began his 2-day Congressional testimony. The S&P 500, the Dow Jones, the Nasdaq-100, and Russell 2000 all ended lower. All elven S&P 500 sectors ended in the red, consumer staples, communication services, and tech were down by the least. Rivian (RIVN) shares hit a 52-week low after the company announced a $1.3B convertible notes offering. Additionally, the Department of Justice is suing to block the JetBlue (JBLU) and Spirit (SAVE) merger. United Airlines (UAL) closed higher after being double upgraded to outperform by Exane BNP Paribas. Delta Airlines (DAL) also closed higher after it was upgraded to outperform by Evercore ISI. This week, look out for a busy several days of employment data. Tune in to find out more about the stock market today.

07 Mar 2023

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