Wednesday, March 31, Market Recap

Good Evening!

Today, March 31…

The DJIA fell 0.26%

The S&P 500 was up 0.36%.

The Nasdaq Composite added 1.50%.

Tech led the market today.

General Market Review

Tech

As the next quarter of earnings reports are set to come out soon, investors boost tech stocks. Microsoft added 1.69% because of a 10-year contract with the US Army to deliver 120,000 HoloLens augmented-reality headsets for $22 billion. Apple was up close to 2% after being upgraded by UBS.

Energy

Oil prices fell lower than $60 a barrel, because of worries on global demand. France increases nationwide lockdowns after an increase in Covid hospitalizations. Inventories for the week fell by 876,000 barrels, while forecasts were set on a build of 107,000 barrels.

Economic Data

Last month, the economy had created 515,000 private jobs, which is only 35,000 shy of expectations. This data gives economists high expectations for nonfarm payrolls.

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