Markets gained between March 19-25 as investors remained optimistic regarding the future of interest rate cuts.
Markets gained on Tuesday following positive sentiment regarding chip stocks. The Dow Jones Industrial Average added 0.8%, the S&P 500 added 0.6% and the Nasdaq composite added 0.4%.
The Energy Select Sector, the Utilities Select Sector and the Consumer Discretionary Select Sector gained 1.1%, 0.9% and 0.9%, respectively.
The Chicago Board Options Exchange Volatility Index can be used as a gauge for investor sentiment regarding the state of the equity markets. On Tuesday, the CBOE Volatility Index declined 3.6% to $13.82.
The three major indexes closed in the green on Wednesday following the Federal Reserve’s decision to keep interest rates unchanged. The Dow rose 1%, the S&P 500 rose 0.9% and the Nasdaq rose 1.3%.
The Consumer Discretionary Select Sector, the Communication Services Select Sector and the Technology Select Sector increased 1.5%, 1.2% and 1.1%, respectively.
The Federal Open Market Committee announced their decision to leave the federal funds rate unchanged at a level of 5.25 to 5.50%. This level is the highest in the past 23 years.
By Thursday’s close, the three major indexes closed in the green due to the release of positive economic data. The Dow added 0.7%, the S&P 500 added 0.3% and the Nasdaq added 0.2%.
The Industrials Select Sector, the Financials Select Sector and the Consumer Discretionary Select Sector climbed 1%, 0.8% and 0.6%, respectively.
The CBOE Volatility Index fell 0.9% to a value of $12.92.
The Bureau of Labor Statistics reported that jobless claims fell 2,000 to 210,000 for the week ended March 16.
Markets closed mixed on Friday; the Dow lost 0.8%, the S&P 500 lost 0.1% and the Nasdaq gained 0.2%. The Real Estate Select Sector fell 1.2% while the Communication Services Select Sector rose 0.2%.
The CBOE Volatility Index added 1.0% to $13.06.
Markets remained mixed as investors continue to digest remarks made by the Fed regarding rate cuts in 2024.
The three major indexes closed lower on Monday in anticipation of forthcoming economic data. The Dow declined 0.4%, the S&P 500 declined 0.3% and the Nasdaq declined 0.3%.
The Technology Select Sector lost 0.7%, the Industrials Select Sector lost 0.6% and the Communication Services Select Sector lost 0.3%.
Markets were closed on Friday, March 29, in observance of Good Friday. Despite the market closure on Friday, investors may look forward to the release of economic data tied to personal income, consumer spending and personal consumption expenditures.
Stocks trading at discounted prices, including those in the Real Estate Select Sector and the Utilities Select Sector, may continue to make an ideal investment at this time.
