Market Roundup: Markets End Up for Week and Quarter

Published: April 1, 2019, 9:18 p.m.

Most markets finished mixed on Monday with the S&P 500 Index slipping 0.08%, while the NASDAQ Composite and the Dow Jones Industrial Average finished up 0.07% and 0.06% respectively. Investors and analysts have been struggling to discern whether a recent streak of disappointing economic data signals the start of a deeper downturn or a temporary cooling of momentum. The day’s action was also driven in part by the 10-year and three-month yield curve, which inverted on Friday, driving investors to take a more defensive stance. Tuesday’s market moved higher led by Technology, Financials, and Energy. Energy stocks saw the biggest gains on the day as U.S. crude-oil futures rose 1.9% to $59.94 a barrel, a more than 30% gain year to date. Economic data was a bit bleak as consumer sentiment fell in March with the present situation component falling to an 11-month low. Housing news missed the mark as well as the Case-Shiller Home Price Index showed home price appreciation decelerated further in January. New worries about the global economy sent major indices lower mid-week with the Dow Jones Industrial Average experiencing a more than 300-point swing before closing down 0.13%. The S&P 500 and NASDAQ lost 0.46% and 0.63% respectively. Treasury rates slipped once again with the 10-year yield dropping to 2.38%, its lowest close since December 2017. CME data showed that nearly 75% of investors expect the Fed to lower interest rates at least once in 2019, higher than the 34% who expected one cut just a week ago. Investors will be watching the United States and China, as the two economic giants meet this week in an attempt to resolve their tariff fight. After a choppy session, stocks ended higher Thursday with the help of some positive news from the on again, off again U.S.-China trade talks. Stocks got a boost following a Reuters report that stated China is willing to compromise with certain points in the negotiation. One of which is the possibility of China addressing concerns over forced technology transfer before the next meeting of representatives. U.S. economic data showed that the U.S. economy grew 2.2% in the fourth quarter, a slower pace than what economists had initially expected. A late afternoon surge on Friday helped stocks post gains for the day. Investors were enthused over reported progress on U.S.-China trade talks; however, the 10-year Treasury dipped below the three-month treasury again. All three indices posted double-digit gains for the quarter, marking the best start for stocks in more than five years.