Weekly Market Overview: April 1 – April 5
The S&P 500 fell this week to start Q2 on a sour note as Federal Reserve officials indicated they were in no rush to cut interest rates.
The S&P 500 fell this week to start Q2 on a sour note as Federal Reserve officials indicated they were in no rush to cut interest rates.
The S&P 500 index edged down 0.1% this week as investors digested higher-than-expected inflation readings for February.
The Fed voted to hold interest rates steady at 525 – 550 basis points. However, it was Powell’s comments after the meeting that caught the markets’ attention. While there was still a lot of hedging in his statement on Wednesday, his comments stood as a marked shift in tone. This gave quite the gift to both the equity and bond markets.
The Major Markets closed higher across the board last week. For the S&P 500, the big news was that it crossed over the 4,300 level after flirting with the threshold the last couple weeks. Moreover, the cumulative gains since the Q4 lows exceeded 20 percent, effectively taking the Blue-Chip index back into bull market territory.
Headline from NPR: “JPMorgan Chase buys troubled First Republic Bank after U.S. government takeover”.
Market Commentary by Larson COO Mitchell Wood The Major Markets sprung to life last week with gains across all five indices, despite the seemingly ever-present volatility related to banking confidence. The week began with the news that UBS completed the acquisition of the troubled Credit Suisse through a deal constructed by the Swiss government. This … Continued
By David George
The Major Markets fell once again last week as the market dealt with the news of a bank run. All five indices fell substantially with the Nasdaq seeing the greatest losses. The S&P 500 was not far behind with a loss just over 4.5 percent. For investors, there was a sense of trepidation midweek as … Continued