New York
CNN
—
US markets ended Thursday little modified, however all main indexes managed to mark their fifth consecutive profitable month.
The S&P 500 was up 0.1% on Thursday, reaching a brand new document excessive. The Dow gained 47 factors, or 0.1% additionally hitting a brand new excessive. The tech-heavy Nasdaq closed 0.1% decrease.
Thursday was the ultimate day of buying and selling for March and the primary quarter of 2024, wrapping up an excellent quarter for US shares.
The S&P 500 notched 22 new highs within the first three months of 2024 alone, and the Dow is simply factors away from reaching the important thing threshold of 40,000 for the primary time ever.
For the quarter, the S&P 500 is about 10.2% greater, its strongest first quarter since 2019. The Dow is up 5.6% – its strongest first quarter since 2021. The Nasdaq, in the meantime, gained greater than 9%.
Tech shares like Nvidia and the AI-craze have helped drive shares greater within the first quarter. Shares of the chipmaker have surged greater than 80% through the first three months of the 12 months.
Additionally fueling the market increase has been a possible pivot by the Federal Reserve to decrease rates of interest. About 64% of buyers now suppose a price minimize will happen in June, based on the CME FedWatch device.
US markets will probably be closed on Friday for the Good Friday vacation.