Stock Bulls Crush Naysayers With $4 Trillion Rally: Markets Wrap

Key gauges of US economic activity expand at firm pace
Traders await Friday’s inflation figures, Powell’s remarks

WATCH: BlackRock Investment Institute’s Chief Investment Strategist for APAC Ben Powell discusses the outlook for Japanese stocks and the case for Nikkei bullishness following the yen’s 34-year low.Source: Bloomberg

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By Rita Nazareth

March 27, 2024 at 10:31 PM UTC

Updated on

March 28, 2024 at 8:37 PM UTC

This article is for subscribers only.

A stellar quarter for stocks ended on a positive note amid speculation the Federal Reserve will be able to achieve a soft landing that will keep powering Corporate America.

Wall Street traders sent the S&P 500 to its 22nd record this year after data showed the economy is in good shape, offsetting the latest Fedspeak that reinforced bets officials will be in no rush to cut rates. A $4 trillion surge in US equity values in just three months has startled doomsayers, while leaving a host of strategists scrambling to update their 2024 targets.