Week of 03/25-03/28 Market Closes First-Quarter With Record Performance

The S&P 500 is up about 10% for the first-quarter in 2024, placing it on the best Q1 gain since 2019. AI has played a huge role in recent market gains as companies battle for investments in artificial intelligence implementations. The tech sector rally has been led by Nvidia and its stock (NVDA) has basically doubled since the beginning of the year, going from under $500dlls to a high of $974dlls per share. The Federal Reserve also contributed to the market surge by providing guidance on interest rate reduction forecasts and announcing no changes to monetary policy in their last FOMC meeting.

Truth Social platform, Trump Media, merger started trading this week under the ticker DJT, which caused DWAC share prices to jump the night before. The stock has been performing well since, with DJT gaining close to 20% for the week. FTX founder Sam Bankman was sentenced to 25 years in prison after being convicted of defrauding FTX investors, customers, and lenders. Bankman-Fried addressed the court before sentencing and commented, "sorry about what happened".

Historical Stock Market Trends for Q2 (Spring Rally)

The stock market spring rally refers to a phenomenon observed in financial markets, where stock prices tend to experience an increase during the spring season. This rally is often characterized by a renewed sense of optimism among investors, as economic indicators improve and corporate earnings reports are released. Historical trends indicate that the stock market tends to perform positively during this period, with investors anticipating stronger economic growth and potential market opportunities. Factors contributing to the spring rally can include increased consumer spending, favorable economic policies, and improved business sentiment. However, it is important to note that the stock market is subject to various uncertainties and risks, and past performance is not indicative of future results. Investors should exercise caution and conduct thorough analysis before making any investment decisions.

The stock market will be closed on Friday (03/29) in observance of Good Friday.