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S&P 500 achieves another record high to end Q1 2024

Stock market indexes (^DJI, ^IXIC, ^GSPC) are mixed as they close the curtain on the first quarter of 2024. The Dow Jones Industrial Average holds above the day's flatline, the S&P 500 pulls off yet another record high, as the Nasdaq Composite closes lower.

Yahoo Finance Markets Reporter Jared Blikre gives a detailed break down of the days's market action and year-to-date sector leaders.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

Editor's note: This article was written by Luke Carberry Mogan.

Video Transcript

JOSH LIPTON: --can see the Dow up about a tenth of a percent. Check out the S&P 500 here. It's up about the same, about a tenth of a percent. And meanwhile, that tech-heavy NASDAQ, it's down about tenth of a percent.

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So not a ton of drama in today's trade. Maybe some traders thinking, you know what, it's OK to sit tight. Because tomorrow, yes, the market is closed, but we do have some important economic data coming. PCE, of course, that is the Fed's preferred inflation gauge.

But you add it up, bulls have been in charge. The S&P 500 on track here its best first quarter since 2019. Traders betting on good economic data and expecting the Fed is going to cut.

So that wraps up the first quarter of trading. Let's get to Jared Blikre with a deeper look at how first three months of trading has gone. Jared.

JARED BLIKRE: Well, thank you, Josh. And it's been an interesting week, too. I should add that the S&P 500 is now up 18 of 22 weeks.

But let's take a look at the year's price action on the Wi-Fi Interactive. Start out with the NASDAQ, you can see it's up 9% basically from the lower left to the upper right. Here is the S&P 500 up 10%. And let's just get the month-to-date tally right there, about 3.1% for the month of March.

And then the Russell 2000 coming alive recently. That's up 3% as well. And then for the year, it is up 4.65%. So it's lagging, but I would say that it is leading to the upside as it's breaking out very recently.

Now, I said energy is the best sector of the day. Well, guess what? It is the best sector of the month by a long shot. XLE is up 9.6% versus XLB, which is materials. That's only up 6%.

And then as of today, guess what? Energy is also the best performing sector of the year up over 12%. And that best communication services, and financials, and also industrials.

But you'll notice the outperformers there, these four. We got four groups of stocks up over 10%. That's pretty significant for the year.

And then finally, if we take a look at our leaders, this is year to date, Bitcoin is up 82%. I'm using GBTC as my proxy there. Solar energy, the biggest loser down 15%.

And if we take a look at the month to date, guess what, it's actually cannabis. Cannabis so volatile, it's frequently at the top or the bottom of the list here. But it's at the top of the list here.

Bitcoin number two, then we have home builders, then we have oil companies, then we have IPOs, values, solar stocks, Korean stocks. So interesting mix. But what did not work, ARKK and that is the financial disruption-- or excuse me, just disruption, tech disruption in general.

You can see Tesla really weighing the most there. Also, CRISPR Therapeutics down 19%. But then in software, you can see bifurcated for the month. You got some winners, some losers, kind of, split down the middle there.