{"id":2786,"date":"2023-04-01T04:03:52","date_gmt":"2023-04-01T09:03:52","guid":{"rendered":"https:\/\/embarrdowns.com\/u-s-stock-market-posts-strong-first-quarter-nasdaq-soars-in-best-quarterly-gain-since-2020\/"},"modified":"2023-04-01T04:03:53","modified_gmt":"2023-04-01T09:03:53","slug":"u-s-stock-market-posts-strong-first-quarter-nasdaq-soars-in-best-quarterly-gain-since-2020","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/u-s-stock-market-posts-strong-first-quarter-nasdaq-soars-in-best-quarterly-gain-since-2020\/","title":{"rendered":"U.S. Stock Market Posts Strong First Quarter, Nasdaq Soars in Best Quarterly Gain Since 2020"},"content":{"rendered":"

The U.S. stock market has experienced a bullish run in the first quarter of 2023, with the S&P 500 index on track to notch its third straight week of gains, a feat not seen since late August 2022. Despite a mixed performance in the bond market, with the benchmark 10-year Treasury yield remaining flat at 3.56% and the two-year yield hovering around 4.10%, the tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020.[0]<\/a><\/sup> This comes after a tough 2022 for tech stocks, as investors sought out less risky avenues to ride out turbulence from the Federal Reserve\u2019s interest rate hike campaign.[0]<\/a><\/sup> <\/p>\n

The Dow Jones also rose about 0.4%, while unemployment claims rose by 7,000 from the previous week to 198,000, showing a slightly weaker labor market than expectations of 196,000.[1]<\/a><\/sup> Charles Schwab Corp. shares fell about 5% on Morgan Stanley\u2019s downgrade, while Intel Corp rose 1.7% as investors welcomed the company’s AI presentation, and after Raymond James and Deutsche Bank analysts raised the price target.[1]<\/a><\/sup> Micron Technology also rose more than 2% in pre-market trading after forecasting Q3 sales of $3.90 billion, better than the consensus of $3.75 billion.[2]<\/a><\/sup> <\/p>\n

Despite a murky outlook for Federal Reserve policy, stocks rose on Wednesday, resuming a recent upswing after a dip the previous day.[3]<\/a><\/sup> The renewed buying in tech stocks helped lift the major averages following a mild risk-off preference over the prior couple of sessions.[4]<\/a><\/sup> The final-fourth quarter GDP has been revised lower from initial estimates of 2.7 to 2.6%, according to the U.S. Bureau of Economic Analysis, while pending home sales rose 0.8% in February despite rising interest rates, according to the National Association of Realtors.[1]<\/a><\/sup> <\/p>\n

As it stands, interest rate traders assign a roughly 50-50 probability for either a pause or 0.25% rate hike at the next Fed meeting, according to CME Group.[5]<\/a><\/sup> Expectations on the central bank’s move at its May meeting continue to fluctuate, with markets now pricing in a ~50% chance of no hike at the May meeting, down from nearly 60% on Wednesday.[6]<\/a><\/sup> It is deemed crucial that the Fed will limit the highest interest rate to 5.00% to 5.25%, as perceived by the markets.[6]<\/a><\/sup><\/p>\n

Gold futures fell 0.1% to $1,995.50\/oz, while EUR\/USD traded 0.2% lower at 1.0876.[7]<\/a><\/sup> The heavyweight Technology sector also got a boost from JD.com, with the U.S.-listed shares of the Chinese e-commerce giant jumping after it announced plans to separately list two of its units on the Hong Kong Stock Exchange.[6]<\/a><\/sup> U.S.-listed Chinese technology stocks also climbed after two subsidiaries of JD.com filed for Hong Kong initial public offerings.[8]<\/a><\/sup> As a result, JD.com is up more than 6% to lead gainers in the Nasdaq 100, while PDD Holdings is up more than 5%, and Alibaba Group Holding is up more than 2%.[8]<\/a><\/sup><\/p>\n

0. <\/span>“Stocks bounced back this quarter, but it’s too early to celebrate” CNN, 31 Mar. 2023, https:\/\/www.cnn.com\/2023\/03\/31\/business\/stocks-q1\/index.html<\/a><\/a><\/p>\n

1. <\/span>“S&P 500 Fully Recovers Bank Turmoil Losses, Nasdaq 100 Extends Further As Rising Jobless Claims Keep Rate …” Benzinga, 28 Mar. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/03\/31577162\/us-stocks-eye-strong-q1-finish-as-futures-point-to-higher-open-jobless-claims-gdp-data-in-focus<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Dips As Alibaba Flies; 3 New Cathie Wood Buys Trade Mixed; Micron Earnings Miss” Investor’s Business Daily, 28 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-falls-as-yields-rise-coinbase-stock-falls-again-as-cathie-wood-buys-more-shares-apple-stock-alibaba-stock-soars<\/a><\/a><\/p>\n

3. <\/span>“Stocks rise as first quarter wraps up: Stock market news today” Yahoo Finance, 31 Mar. 2023, https:\/\/finance.yahoo.com\/stocks-rise-as-first-quarter-wraps-up-stock-market-news-today-125051425.html<\/a><\/a><\/p>\n

4. <\/span>“Dow, S&P 500, Nasdaq rally as Micron boosts tech (SP500)” Seeking Alpha, 29 Mar. 2023, https:\/\/seekingalpha.com\/news\/3952433-dow-sp-500-nasdaq-rally-as-micron-boosts-tech<\/a><\/a><\/p>\n

5. <\/span>“On a Roll: Late-Quarter Rally Gains Steam As Banking Fears Dissipate, But Watch for Fed Speakers” The Ticker Tape, 30 Mar. 2023, https:\/\/tickertape.tdameritrade.com\/market-news\/on-a-roll-late-quarter-rally-gains-steam-as-banking-fears-dissipate-but-watch-for-fed-speakers-19436<\/a><\/a><\/p>\n

6. <\/span>“Nasdaq, S&P 500, Dow end higher for second straight day, buoyed by tech stocks (SP500)” Seeking Alpha, 30 Mar. 2023, https:\/\/seekingalpha.com\/news\/3952769-sp500-nasdaq-dow-jones-stock-market-tech-stocks-fed<\/a><\/a><\/p>\n

7. <\/span>“Dow futures rise 75 pts; Fed’s main inflation gauge in focus By Investing.com” Investing.com, 31 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-75-pts-feds-main-inflation-gauge-in-focus-3046179<\/a><\/a><\/p>\n

8. <\/span>“Strength in Chipmakers Pushes Tech Stocks and the Overall Market Higher” Barchart, 30 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/15556332\/strength-in-chipmakers-pushes-tech-stocks-and-the-overall-market-higher<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. stock market has experienced a bullish run in the first quarter of 2023, with the S&P 500 index on track to notch its third straight week of gains, a feat not seen since late August 2022. Despite a mixed performance in the bond market, with the benchmark 10-year Treasury yield remaining flat at 3.56% and the two-year yield hovering around 4.10%, the tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020.[0]<\/a><\/sup> This comes after a tough 2022 for tech stocks, as investors sought out less risky avenues to ride out turbulence from the Federal Reserve\u2019s interest rate hike campaign.[0]<\/a><\/sup> <\/p>\n

The Dow Jones also rose about 0.4%, while unemployment claims rose by 7,000 from the previous week to 198,000, showing a slightly weaker labor market than expectations of 196,000.[1]<\/a><\/sup> Charles Schwab Corp. shares fell about 5% on Morgan Stanley\u2019s downgrade, while Intel Corp rose 1.7% as investors welcomed the company’s AI presentation, and after Raymond James and Deutsche Bank analysts raised the price target.[1]<\/a><\/sup> Micron Technology also rose more than 2% in pre-market trading after forecasting Q3 sales of $3.90 billion, better than the consensus of $3.75 billion.[2]<\/a><\/sup> <\/p>\n

Despite a murky outlook for Federal Reserve policy, stocks rose on Wednesday, resuming a recent upswing after a dip the previous day.[3]<\/a><\/sup> The renewed buying in tech stocks helped lift the major averages following a mild risk-off preference over the prior couple of sessions.[4]<\/a><\/sup> The final-fourth quarter GDP has been revised lower from initial estimates of 2.7 to 2.6%, according to the U.S. Bureau of Economic Analysis, while pending home sales rose 0.8% in February despite rising interest rates, according to the National Association of Realtors.[1]<\/a><\/sup> <\/p>\n

As it stands, interest rate traders assign a roughly 50-50 probability for either a pause or 0.25% rate hike at the next Fed meeting, according to CME Group.[5]<\/a><\/sup> Expectations on the central bank’s move at its May meeting continue to fluctuate, with markets now pricing in a ~50% chance of no hike at the May meeting, down from nearly 60% on Wednesday.[6]<\/a><\/sup> It is deemed crucial that the Fed will limit the highest interest rate to 5.00% to 5.25%, as perceived by the markets.[6]<\/a><\/sup><\/p>\n

Gold futures fell 0.1% to $1,995.50\/oz, while EUR\/USD traded 0.2% lower at 1.0876.[7]<\/a><\/sup> The heavyweight Technology sector also got a boost from JD.com, with the U.S.-listed shares of the Chinese e-commerce giant jumping after it announced plans to separately list two of its units on the Hong Kong Stock Exchange.[6]<\/a><\/sup> U.S.-listed Chinese technology stocks also climbed after two subsidiaries of JD.com filed for Hong Kong initial public offerings.[8]<\/a><\/sup> As a result, JD.com is up more than 6% to lead gainers in the Nasdaq 100, while PDD Holdings is up more than 5%, and Alibaba Group Holding is up more than 2%.[8]<\/a><\/sup><\/p>\n

0. <\/span>“Stocks bounced back this quarter, but it’s too early to celebrate” CNN, 31 Mar. 2023, https:\/\/www.cnn.com\/2023\/03\/31\/business\/stocks-q1\/index.html<\/a><\/a><\/p>\n

1. <\/span>“S&P 500 Fully Recovers Bank Turmoil Losses, Nasdaq 100 Extends Further As Rising Jobless Claims Keep Rate …” Benzinga, 28 Mar. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/03\/31577162\/us-stocks-eye-strong-q1-finish-as-futures-point-to-higher-open-jobless-claims-gdp-data-in-focus<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Dips As Alibaba Flies; 3 New Cathie Wood Buys Trade Mixed; Micron Earnings Miss” Investor’s Business Daily, 28 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-falls-as-yields-rise-coinbase-stock-falls-again-as-cathie-wood-buys-more-shares-apple-stock-alibaba-stock-soars<\/a><\/a><\/p>\n

3. <\/span>“Stocks rise as first quarter wraps up: Stock market news today” Yahoo Finance, 31 Mar. 2023, https:\/\/finance.yahoo.com\/stocks-rise-as-first-quarter-wraps-up-stock-market-news-today-125051425.html<\/a><\/a><\/p>\n

4. <\/span>“Dow, S&P 500, Nasdaq rally as Micron boosts tech (SP500)” Seeking Alpha, 29 Mar. 2023, https:\/\/seekingalpha.com\/news\/3952433-dow-sp-500-nasdaq-rally-as-micron-boosts-tech<\/a><\/a><\/p>\n

5. <\/span>“On a Roll: Late-Quarter Rally Gains Steam As Banking Fears Dissipate, But Watch for Fed Speakers” The Ticker Tape, 30 Mar. 2023, https:\/\/tickertape.tdameritrade.com\/market-news\/on-a-roll-late-quarter-rally-gains-steam-as-banking-fears-dissipate-but-watch-for-fed-speakers-19436<\/a><\/a><\/p>\n

6. <\/span>“Nasdaq, S&P 500, Dow end higher for second straight day, buoyed by tech stocks (SP500)” Seeking Alpha, 30 Mar. 2023, https:\/\/seekingalpha.com\/news\/3952769-sp500-nasdaq-dow-jones-stock-market-tech-stocks-fed<\/a><\/a><\/p>\n

7. <\/span>“Dow futures rise 75 pts; Fed’s main inflation gauge in focus By Investing.com” Investing.com, 31 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-75-pts-feds-main-inflation-gauge-in-focus-3046179<\/a><\/a><\/p>\n

8. <\/span>“Strength in Chipmakers Pushes Tech Stocks and the Overall Market Higher” Barchart, 30 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/15556332\/strength-in-chipmakers-pushes-tech-stocks-and-the-overall-market-higher<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":2785,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2786"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=2786"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/2785"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=2786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=2786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=2786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}