The S&P 500 crossed $4,000 for the first time in its history on Thursday, rising +1.2% to a fresh record close of 4,019.87 as Wall Street built on a solid March following the rollout of President Joe Biden's infrastructure plan. The DOW climbed 171.66 points or +0.5%, to 33,153.21, and the NASDAQ jumped +1.8% to 13,480.11.
On a weekly level, the DOW and the S&P 500 posted gains for the week, up +1.1% and +.24%, respectively. The NASDAQ fell +2.60% on the week. However, the market rally has slowed down in recent weeks as rising interest rates, and valuation concerns hit tech names.
Wall Street wrapped up March with solid gains. The DOW and the S&P 500 climbed +6.6% and +4.3%, respectively, posting their best month since November. The NASDAQ gained +0.4%, even with tech stocks coming under pressure amid rising interest rates.
Taking it one step further, all three indexes finished off the first quarter in 2021 with gains. The S&P 500 and NASDAQ both gained over +1% with gains of +1.1% and +1.7%, respectively. The DOW's gain was lower but still positive, standing at +.50%.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 3,853.50
- Dow (INDEX:DJI): 321,071.41
- NASDAQ (NASDAQ:COMP): 13,620.71
- U.S. Dollar (ICE:DX): 91.30
- Gold (NYMEX:GC.J21): 1,677.00
- Crude Oil (NYMEX:CL.K21): 61.75
- Bitcoin (BITCOIN:BITSTAMPUSD): 50,360.00
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
