Hello readers,
Today, the stock market saw a mostly strong end to the shortened week. The S&P 500 edged up 0.1%, while the Dow Jones Industrial Average gained 0.1% or 47 points. Despite this, the Nasdaq Composite ended the day down 0.1%. Notably, the 10-year Treasury yield settled at 4.192%, edging lower. All three stock indices had a strong quarter, with the S&P leading the pack with a 10% increase, marking the index's best start to the year since 2019.
Estee Lauder was the best performer on the S&P 500, rising 6.3% after BofA Securities raised the stock to 'buy' with a $170-a-share price target. On the other hand, shares of Trump Media & Technology Group slid 6.4% after a steep rally in the first two days of trading. Notably, 'Bond King' Bill Gross may have cashed in on the stock's volatility, and Heard Editor Spencer Jakab has some ideas on how he might have done so.
Furthermore, RH shares jumped 17% after the company reported worse-than-expected results post-market close on Wednesday but gave hopeful guidance based on its new furniture catalog launches. Investors will want to keep their eyes on the PCE index, the Fed's preferred inflation gauge, which comes out on Good Friday. Stay tuned for more updates!
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