Published on 1 Apr 2024 on Zacks via Yahoo Finance

Take the Zacks Approach to Beat the Market: NVIDIA, Dell, Modine in Focus

Last week, two of the three widely followed indexes closed in the green, while one remained closed in the red. The Nasdaq Composite declined 0.3%, while the S&P 500 and the Dow Jones Industrial Average advanced 0.4% and 0.8%, respectively.

The holiday-shortened week started off slow, with three straight losing sessions before trading on Thursday, the last business day, helped turn things around. Investors have gone back to a general consensus of a June rate cut, even as Fed officials are still not committing a date to it. In fact, with core PCE inflation coming in hotter than expected on Friday, Fed Chair Jerome Powell mentioned that a decision to cut rates might be disruptive at this juncture.

For the quarter, the benchmark indexes showed decent growth riding primarily on AI optimism, with the Dow, Nasdaq and S&P 500 advancing 5.6%, 9.1% and 10.2%, respectively.