VTI - Stocks Hop Into April At Record Highs Gold Shines
2024-03-28 17:15:00 ET
Summary
- Stocks had strong gains in March, with the S&P 500 and Russell 2000 ETFs both rising over 3% and 4% respectively.
- Energy and Materials sectors performed well, while the Nasdaq 100 ETF underperformed amid a cool-down in the AI momentum trade.
- Gold reached a fresh all-time high in March, while the S&P 500's forward price-to-earnings multiple is near its highest level in two years.
- With interest rate cuts likely on the horizon, the party is on with the SPX now selling at near 21 times forward earnings estimates.
Just as stocks took a big leap into February, they are hopping into the Easter weekend with strong March gains under their belt. Investors' baskets are full of winners no matter where you look. Egg-celent returns were seen in U.S. large caps - the S&P 500 (SP500, SPX, SPY) rallied more than 3%, while the Russell 2000 ETF (IWM) jumped 4%....
Stocks Hop Into April At Record Highs, Gold Shines