Company / Analytics

Analytics, 02 April 2023

Week 13 in Brief

North America

Wall Street rallied more than 1% on Friday and the Nasdaq notched its biggest quarterly percentage gain since June 2020, as signs of cooling inflation bolstered hopes the Federal Reserve might soon end its aggressive interest rate hikes.

The S&P 500 closed at its highest level since Feb. 15 and posted a second straight quarter of gains, led by the technology sector’s 21.5% rise in the first quarter.

The S&P 500 financial sector was the quarter’s worst-performing sector, posting a 6.1% drop, while the KBW regional bank index fell 18.6% for the period.

The Commerce Department report Friday showed U.S. consumer spending rose moderately in February while inflation cooled.

How did the major indices perform?

What Drove the U.S. Market?

How Did the European Markets Perform?

How did Asian Markets Perform

Bonds and Commodities


Next Week

The U.S. markets will have a shortened trading week with Friday closed for the holiday. The labor market will take center stage, starting with the release of the February Job Openings and Labor Turnover Survey (JOLTS) report on Tuesday, followed by ADP’s National Employment Report on Wednesday, tracking private sector payrolls. These reports will set the stage for the latest nonfarm payrolls report on Friday, which will track job growth in March.

Additionally, S&P Global and the Institute for Supply Management (ISM) will provide Purchasing Managers’ Index (PMI) readings to offer the latest insights on the strength of the U.S. manufacturing and service sectors.

On Monday, officials from the Organization of the Petroleum Exporting Countries (OPEC) and their allies, led by Russia, will hold a virtual meeting to discuss the possibility of further supply cuts. In November, OPEC+ cut output by two million barrels per day to support declining prices.

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