Published on 2 Apr 2024 on Zacks via Yahoo Finance
3 Must-Buy Growth Funds as Wall Street Rally Ends Q1 on a High
Wall Street ended the first quarter on a high after a solid 2023. Stocks rallied as inflation declined sharply over the past year and optimism surrounding rate cuts gave investors’ confidence a boost.
The Dow, the S&P 500 and the Nasdaq gained 10.2% to record the best first quarter since 2019. The Dow finished the quarter up 5.6%, while the Nasdaq rallied 9.1%.
Understandably, investor sentiment is high despite inflation increasing marginally in the first two months of the year. The Federal Reserve adopted a strict monetary tightening policy and increased interest rates by 525 basis points to take its benchmark policy rate to the current range of 5.25-5.5%.