Stock market today: S&P 500’s latest record closes out best first quarter since 2019
Stocks rallied into to the close end the last trading day of the month, capping a fruitful first quarter of 2024 with a fresh record high for the S&P 500.
The S&P 500 (^GSPC) and the blue-chip Dow Jones Industrial Average (^DJI) popped more than 0.1% on Thursday. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) slipped about 0.1% on the day. Zooming out, though, all three major averages have now risen for five straight months.
With markets closed for the Good Friday holiday, Thursday marks the final trading session of the quarter. It’s been a banner one for Wall Street: The S&P 500’s more than 10% return to start the year marks its best first quarter performance since 2019.
What largely started as a megacap-driven rally has shown signs of broadening. Wall Street firms almost can’t keep pace with the S&P’s surge and have continued to move up their year-end price targets. And history suggests the momentum could continue.
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