Stock Market Sees Uptick in Quarter’s Closing Days: Market Overview
As the quarter comes to a close, the stock market experiences a rebound, with the S&P 500 nearing a 10% increase for the year, potentially marking its second consecutive quarter of double-digit gains—a rarity since 1950, as noted by Bloomberg data. Amid these final days, traders navigated through economic updates, including a rise in US durable goods orders for the first time in three months and a surge in home-price growth at a pace not seen since 2022, adding pressure in the housing market.
The S&P 500 lingered around 5,230, while United Parcel Service Inc. projected growth in sales and profits over the next three years, aiming to counteract the post-pandemic dip in package delivery demand. Apple Inc. faced a 33% decline in iPhone shipments in China compared to the previous year. Meanwhile, Treasury 10-year yields edged up to 4.26%, and the dollar showed fluctuations.
Significant corporate developments included Trump Media & Technology Group Corp.’s ( $DJT) leap following a merger with Digital World Acquisition Corp.( $DWAC), providing over $275 million in capital. McDonald’s Corp.( $MCD) plans to incorporate Krispy Kreme Inc.’s ( $DNUT) doughnuts into its US menu, Viking Therapeutics Inc.( $VKTX) shared promising results from a weight-loss pill study, Galaxy Digital Holdings Ltd.
( $GLXY.TO) reported a profitable fourth quarter, Moderna Inc.( $MRNA) announced success in a Covid-19 vaccine trial, and Altice France SA’s bonds saw substantial trading activity after a tumultuous week.
