Against all odds, stock markets have managed to roar through the first quarter of the year, seeing all major indexes closing off the final trading week of the quarter on new highs despite high levels of uncertainty, inflationary pressure, and the high-interest rate environment.
On Wednesday, March 27, the benchmark S&P 500 rose 0.53%, pushing total quarterly gains to roughly 10% for the first quarter of 2024. Since late January, the benchmark index has been setting new records and hasn’t looked back ever since. The index is now on track to clock in its biggest first-quarter gain since 2019.
Similarly, both the Dow Jones Industrial Average and the tech-heavy Nasdaq Composite reported similar gains, with the Dow Jones rising 0.40% and the Nasdaq up 0.40% during late Wednesday afternoon trading.
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