Published on 10 Apr 2024 on Zacks via Yahoo Finance

5 Stocks With Recent Price Strength to Maximize Your Gain

U.S. stock markets maintained their northbound journey in the first quarter of 2024 after an impressive 2023. In first-quarter 2024, the S&P 500 rallied 10.2%, marking its best first-quarter performance since 2019. The Dow surged 5.6%, reflecting its strongest first-quarter performance since 2021. The tech-heavy Nasdaq Composite appreciated 9.1% in the same quarter.

However, volatility returned to Wall Street in the first week of April. The Dow slid 2.3%, posting its worst weekly performance in 2024. The S&P 500 declined 1% during the period, while the Nasdaq Composite lost 0.8%.

This was primarily due to market participants’ concern regarding the first reduction of the current range of the Fed fund rate. As many as 15 Fed officials recently said that they are in no hurry to initiate a rate cut, though the majority of these officials still believe that at least one rate cut of 25 basis points will happen this year.