Nasdaq Index, Dow Jones, S&P 500 News: Wall Street Flat as Home Depot, Walgreens Impress
Impressive Quarter Performance
The S&P 500 has surged approximately 10% during the quarter, positioning itself for its most substantial first-quarter gain since 2019, when it recorded a remarkable rally of 13.1%. Similarly, the Dow Jones Industrial Average, boasting a 5.5% surge in the period, is on track for its most robust first-quarter performance since 2021, with a notable advance of 7.4%. Meanwhile, the Nasdaq has climbed 9.3% thus far in the quarter.
Monthly and Quarterly Advances
On a monthly basis, the S&P 500 has notched a 3% gain, with the Nasdaq and the Dow pacing for advances exceeding 1.9%. All three primary stock averages are poised for their fifth consecutive winning month and the second consecutive quarter of gains.
Notable Performances
Driving the remarkable gains observed this quarter and month is Nvidia, the previous year’s market leader, as the fervor surrounding artificial intelligence continues unabated. Nvidia has surged by an impressive 82% for the quarter and by 14% in March alone.
In pre-market activity, Home Depot unveiled its plans to acquire SRS Distribution in an $18.25 billion deal, signaling its ambitious drive to enhance sales by capturing more business from contractors and home professionals.
Similarly, Walgreens reported second-quarter sales that surpassed Wall Street’s expectations but revised its full-year adjusted earnings outlook downward due to challenges in the U.S. retail environment.
Upcoming Reports
Investors are eagerly anticipating data on jobless claims, gross domestic product, and consumer sentiment. Additionally, while the market will be closed on Good Friday, significant economic data pertaining to personal income, consumer spending, and personal consumption expenditures will be released.