Stock Market Today: Stocks Wobble as February Draws to a Close
The major benchmarks struggled for direction on the final session of a tough month.


It was a wobbly end to a tough month for stocks.
All three major benchmarks finished February in the red as strong readings on both the U.S. economy and inflation have heightened fears that the Fed could continue raising interest rates and keep them higher for longer. Today's economic data, as well as cautious guidance from Target (TGT), sparked even more uncertainty for investors, and had stocks struggling for direction into the close.
Among the many economic reports that were released today was the S&P CoreLogic Case-Shiller National Home Price Index, which showed that home prices fell 0.5% in December, their sixth straight monthly decline.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Separately, the Conference Board said its consumer confidence index fell more than expected in February. "Fewer consumers are planning to purchase homes or autos and they also appear to be scaling back plans to buy major appliances. Vacation intentions also declined in February," the Conference Board said in its press release.
"Consumers' confidence continued to wane in February," says Shannon Seery, economist at Wells Fargo. "A tight labor market is keeping consumers feeling secure about their present situation, but still high prices and rising borrowing costs leave consumers particularly concerned about what lies ahead."
And this shift in dynamic from the consumer is being seen in the retail earnings that have been rolling in recently. Earlier today, Target (+1.0%) reported higher-than-expected earnings and revenue, but CEO Brian Cornell told CNBC's "Squawk Box" that sales of food, beverage and household essentials offset softness in some discretionary categories. And like so many other retailers this earnings season, Target gave cautious guidance amid "a very challenging environment," Cornell said in the company's quarterly statement.
The "lowered bar" for Target's guidance "should help investors become more comfortable with the story, given that sales continue to remain strong," says David Wagner, portfolio manager at Aptus Capital Advisors, a registered investment advisor with $3.9 billion in assets under management.
Consumers will stay in focus over the next several days, with a number of other retailers on this week's earnings calendar. Next up is dollar-store chain Dollar Tree (DLTR), which reports tomorrow morning.
As for the major market indexes, the Nasdaq Composite closed down 0.1% at 11,455, the S&P 500 slipped 0.3% to 3,970, and the Dow Jones Industrial Average fell 0.7% to 32,656.
The best ETFs to buy
"As waves of uncertainty crash into March, the volatility playing out on the stock market is expected to continue at least until central banks press pause on rates, a scenario which is being pushed, bit by bit further ahead into the year," says Susannah Streeter, head of money and markets at Hargreaves Lansdown.
It can be a tall task for investors to find sound investment opportunities during these difficult times. The best dividend stocks and the best dividend growth stocks are a good place to start. These top recession-proof stocks can also provide portfolio protection during periods of economic instability. Investors wanting more diversification will want to check out the best ETFs to buy now, which offer a variety of low-cost strategies to protect their portfolios during these uncertain times.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Investing Abroad Could Pay Off — Here's How
Countries overseas are stimulating their economies, and their stocks are compelling bargains.
-
Retire in Belize for Stunning Natural Beauty and Culture
Belize offers miles of protected land and ocean, a rich mix of cultures and a chill lifestyle. Best yet — the income requirement is just $2K per month.
-
Stock Market Today: Stocks Swing as Trump Scraps Canada Trade Talks
Despite a mid-afternoon slip, the S&P 500 and Nasdaq ended the day at new record highs.
-
Stock Market Today: S&P 500, Nasdaq Near New Highs
The S&P 500 hasn't hit a new high since February. It's been since December for the Nasdaq.
-
Stock Market Today: Stocks Struggle to Sustain Gains
Mixed messages from multiple sources continue to make for a messy market for investors, traders and speculators.
-
Stock Market Today: Stocks Soar on Israel-Iran Ceasefire
It was a rocky start to the truce, but a temporary halt to fighting between Israel and Iran appears to be holding for now.
-
The Riskiest S&P 500 Stocks Right Now
Buyer beware: These are five of the riskiest stocks in the S&P 500 at the moment, based on one measure of volatility.
-
Stock Market Today: Stocks Rise on a Little More Uncertainty
The best response to a major geopolitical event is often no response at all, especially if you're looking at the big picture.
-
Stock Market Today: Stocks Chop as Chipmakers Decline
Several semiconductor stocks fell Friday on reports that the White House may consider revising license waivers for global chipmakers.
-
Stock Market Today: Stocks Grapple for Peace Trade Gains
Of course dramatic tension is high on Fed Day, only this time it's about war and peace as well as monetary policy.