Stock Market Today: Stocks Waver On Final Day of a Stellar First Quarter
Markets went into the long holiday weekend with something of a whimper.


Markets ended an outstanding first quarter on a quiet note ahead of the long holiday weekend.
If stocks spent much of Thursday wavering, it was due in part to a speech given the night before by Fed Governor Christopher Waller. His insistence that "there's still no rush" to cut interest rates cast something of a hawkish pall over the session.
Perhaps it's just as well the stock and bond markets are closed in observance of Good Friday, which means they will be unable to react to tomorrow's release of the Personal Consumption Expenditures Price Index (PCE), which is the Federal Reserve's preferred inflation gauge.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
As of March 28, interest rate traders assigned a 61% probability to the Federal Open Market Committee (FOMC) enacting its first cut to the federal funds rate in June, down from 64% a day ago, according to CME Group's FedWatch Tool.
Exuberance over artificial intelligence (AI) stocks and market expectations for three quarter-point interest rate cuts before year-end have fueled a remarkable rally in stocks off their October lows. Indeed, all three main U.S. benchmarks produced robust gains for the first three months of the year.
The S&P 500 enjoyed its best first quarter in five years with a gain of more than 10% on a price basis. The tech-heavy Nasdaq Composite added more than 9% on a price basis, while the blue-chip Dow Jones Industrial Average rose almost 6%.
If there's a consensus among strategists in their second-quarter outlooks, the market appears to have plenty of room to run.
GDP revised up, jobless claims steady
In economic news, the U.S. economy grew at a faster pace than previously estimated in the fourth quarter. Inflation-adjusted gross domestic product (GDP) increased at an annual rate of 3.4% – up from 3.2% – in the final three months of 2023, the Bureau of Economic Analysis said Thursday.
Separately, initial unemployment claims fell to 210,000 for the week ended March 23, down from 212,000 the prior week. Economists were looking for claims to come in at 215,000.
"Employers have tempered their pace of layoffs, allowing tight labor conditions to persist," says José Torres, senior economist at Interactive Brokers. "Overall, these figures point to little stress in the labor market."
As for Thursday, stocks mostly struggled for direction on relatively light volume. The S&P 500 added 0.1% to finish at 5,254, while the Nasdaq slipped 0.1% to 16,379. The Dow gained 0.1% to close at 39,807.
GE slumps ahead of spinoff
General Electric (GE) was one of the S&P 500's biggest losers on Thursday, shedding 2.6% ahead of its spinoff of GE Vernova.
As we noted recently, venerable GE, once the longest-serving member of the Dow Jones Industrial Average, will officially split into two companies at the start of April.
GE will spin off GE Vernova on April 2, which will then start trading on the New York Stock Exchange (NYSE) under the ticker GEV. Holders of GE common stock will receive one share of GE Vernova common stock for every four shares of GE common stock held as of March 19.
GE stock has nearly doubled over the past 52 weeks as the company has shrunk in order to grow. Analysts remain bullish on GE's prospects, assigning it a consensus recommendation of Buy, according to S&P Global Market Intelligence.
Related content
- The 15 Most Expensive Housing Markets in the US: Cities with the Highest Average Home Prices
- Are Banks Open on Good Friday?
- Kiplinger's Earnings Calendar for This Week
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Dan Burrows is Kiplinger's senior investing writer, having joined the publication full time in 2016.
A long-time financial journalist, Dan is a veteran of MarketWatch, CBS MoneyWatch, SmartMoney, InvestorPlace, DailyFinance and other tier 1 national publications. He has written for The Wall Street Journal, Bloomberg and Consumer Reports and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among many other outlets. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange.
Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.
In his current role at Kiplinger, Dan writes about markets and macroeconomics.
Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.
Disclosure: Dan does not trade individual stocks or securities. He is eternally long the U.S equity market, primarily through tax-advantaged accounts.
-
Stocks Edge Higher With Nvidia, Fed in Focus: Stock Market Today
The AI bellwether reports earnings after today's close, while Wall Street is keeping a cautious eye on President Trump's attacks against the Fed.
-
New Trump Tax Bill: Five Changes Homeowners Need to Know Now
Tax Changes Trump’s new tax legislation is reshaping how tax breaks for homeowners work.
-
Stocks Edge Higher With Nvidia, Fed in Focus: Stock Market Today
The AI bellwether reports earnings after today's close, while Wall Street is keeping a cautious eye on President Trump's attacks against the Fed.
-
The Smart Way to Retire: 13 Habits to Steal From the Wealthy
Check out these practical strategies that anyone can adopt, not just the rich, and get closer to achieving your retirement dreams.
-
Are There Opportunities to Invest in China?
Opportunities to invest in China are plentiful and, arguably, shouldn't be ignored in the U.S. Here's where to look.
-
Coulda, Woulda, Shoulda: Are These 5 Stocks Too Overvalued to Buy Now?
Investors worried about missing the boat on overvalued stocks need not fret. These five names, while expensive, are still seeing lots of love from analysts.
-
I'm a Financial Planning Pro: Do Your Family a Final Favor and Write Them a Love Letter
Specify your preferences in this personal document that shares your wishes on how you want to be remembered and celebrated. Your family will thank you for easing an emotional time.
-
The Future of Financial Advice Is Human: Gen Z Trusts Advisers, But AI Skills Matter
Graduates entering the workforce trust human advisers more than AI tools with their financial planning. But AI can still enhance the client/adviser relationship.
-
President Trump Makes Markets Move Again: Stock Market Today
The White House is moving ahead with plans to reshape the Federal Reserve and to buy shares in more sectors and stocks.
-
Can President Trump Fire Fed Governor Lisa Cook?
Markets hate uncertainty, especially when it comes to monetary policy and interest rates, and questions about the Fed are compounding.