The stock market continued its winning streak on Thursday, with Wall Street setting more records as the U.S. stocks closed out the month and quarter on a high note. The S&P 500 reached a new all-time high, adding 5.86 points to close at 5,254.35, marking a 10.2% gain for the year’s first three months. The Dow Jones Industrial Average also set a record, ticking up by 47.29 points to 39,807.37.
The market has been on a strong run since late October, with the S&P 500 capping its fifth straight winning month. Despite the Federal Reserve’s efforts to control inflation with high interest rates, the U.S. economy has remained solid, driving the market higher.
Some standout performers during the quarter included companies in the artificial-intelligence technology sector, with Nvidia surging 82.5% and Super Micro Computer seeing its stock soar 255.3%. However, Tesla experienced a 29.3% decline, while Boeing sank 26% amid safety and manufacturing quality concerns.
In other news, Trump Media & Technology Group, the company behind former President Donald Trump’s Truth Social social media platform, fell 6.4% after recent gains. Mixed reports on the economy included stronger-than-expected consumer sentiment but contracting manufacturing in the Chicago region.
Overall, the market outlook remains positive, with the bond market also showing slight increases in yields. Abroad, Tokyo’s Nikkei 225 saw a 1.5% slump, while movements in other regions were more modest.
As the financial markets close for Good Friday, investors will be watching closely to see if the market’s momentum can continue into the next quarter.
