Over the past week, as investors digested the shock of a series of recent banking crises, coupled with the latest economic data showing US inflation slowing more than expected, markets shifted to betting that the aggressive rate-hike cycle was nearing an end. With the recovery of risk sentiment, the three major stock indexes in the United States rose across the board, ending the first quarter of 2023 with the "three consecutive positive". As of the close of local time on March 31, the Dow rose 1.26% to 33274.15 points; The S&P 500 rose 1.44% to 4109.31. The Nasdaq rose 1.74 percent to 12,221.91. From the weekly performance, the Dow gained 3.22 percent, the S&P 500 gained 3.48 percent and the Nasdaq gained 3.37 percent.
Looking back at the monthly performance, the three major indexes collectively recorded gains in March. The Dow gained 1.89%, the S&P 500 gained 3.51% and the Nasdaq gained 6.69%. Thanks to the strong rebound in recent sessions, the three major indexes maintained gains in the first quarter amid volatility and volatility. Among them, the Dow Jones Industrial average rose 0.38%; The S&P 500 is up 7.03%; The Nasdaq was the strongest performer, up nearly 17 percent and Posting its best quarterly performance since the second quarter of 2020.
Shares of Meta Platforms(META), the parent company of Facebook and Instagram, rose more than 75 percent in the first three months of the year, while Tesla's stock rose 68 percent. Bitcoin (BTC-USD) also rose nearly 70 percent in the first quarter as technology-led risk market spirit cut across asset classes. Also this week, the U.S. stock market will be closed on Friday for Good Friday.
European markets: European stocks closed broadly higher after eurozone core CPI met expectations and a key U.S. inflation gauge slowed. The Stoxx Europe 600 Index (SXXP) rose 0.7% to 457.84. Britain's FTSE 100 index gained 0.1% to 7,631.74. France's CAC-40 index rose 0.8% to 7,322.39; Germany's DAX rose 0.7% to 15,628.84.
Popular Chinese stocks performed strongly, with the NASDAQ China Golden Dragon Index up 2.42%. Jingdong rose more than 8%, Jingdong Group announced in the evening of March 30 in the Hong Kong Stock Exchange, the proposed spin-off of Jingdong development, Jingdong Industry on the main board of the Hong Kong Stock Exchange Limited independent listing. Miniso, NiO rose more than 6%, shell, Pinduo, Huanju, etc. rose more than 4%, Huazhu, Alibaba, Douyu, Sohu, etc. rose more than 3%, Weibo, Ctrip, Autohome, etc., rose more than 2%. In terms of decline, Baidu and New Oriental fell more than 2%.
The number of Americans filing for unemployment benefits rose for the first time in three weeks, Labor Department data showed on Thursday, pointing to some weakness in the still-strong labor market. Initial claims for state unemployment benefits rose 7,000 to 198,000 in the week ended March 25, compared with expectations of 196,000.
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