The S&P 500 closed out its best quarter since 2019 with a record close
Despite facing some volatility, the S&P 500 wrapped its best quarter since 2019 with daily, weekly, and monthly gains, including a record close today. The same can be said for the Dow, which notched its best quarterly performance since 2021 and fifth-straight positive month.
While the tech-heavy Nasdaq extended a monthly win streak of its own and logged a stellar quarter, it settled below breakeven and fell for the week. The market will be closed tomorrow to observe Good Friday, but investors will be keeping an eye on the personal consumption expenditure (PCE) index that is still due out.
Continue reading for more on today's market, including:
- Investors should avoid 25 stocks next month.
- How to approach volatility in options trading.
- Plus, best stock to own in April; PLTR downgraded; and SPOT support piles up.
5 Things to Know Today
- Home Depot (HD) will buy SRS Distribution for $18.25 billion in an effort to win sales from professionals such as contractors. (CNBC)
- RH (RH) said it expects demand to pick up in 2024, after the company contended with “the most challenging housing market in three decades.” (MarketWatch)
- This energy stock is the best name to own in April.
- Analyst gets honest with Palantir stock.
- Spotify stock looks well overdue for a round of bull notes.
Gold, Oil Prices See Gains Across the Board
Oil prices snapped a three-day losing streak on Thursday, and also nabbed a third-straight monthly win and a 16% quarterly gain. Crude production cuts and a smaller-than-expected jump in crude inventories contributed to the results. May-dated West Texas Intermediate (WTI) rose $1.82, or 1.3%, to finish at $82.42 per barrel for the day. The commodity added 0.6% for the week and 6.3% in March.
Gold prices settled higher as well, notching their best month in roughly one year and a quarterly gain in the process, thanks to strong demand and the prospect of interest rate cuts. June-dated gold rose $25.70, or 1.1%, to settle at $2,238.40 per ounce on the day. For the week, the yellow metal gained 1.8%.