Markets shrugged off crises in March to post impressive gains. Their quarterly performance is even more impressive.
April's been the best month for the Dow Jones Industrial Average and the second best for the S&P 500, according to the Stock Trader's Almanac. Analysts, however, think stocks have a chance of "Markets were defiant in March. Last month, they shrugged off crisis after crisis and posted impressive gains.
I started off by saying markets were "defiant" — implying they were behaving contrary to how they should, given the economic reality — but I admit that's a little unfair. Markets did have reasons to rally despite the headwinds in March. That's good news for those worried about inflation and higher inflation rates. For technology companies, that's more than good news — it's music to their ears. Tech stocks benefit the most from lower interest rates, because their valuation tends to depend on future earnings, which are worth less when interest rates are high.
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