The first quarter of 2026 closed with a flourish on Wall Street, as tech shares powered major indexes higher on March 31. Investors rotated back into growth stocks, shrugging off mixed economic signals and keeping the S&P 500 and Nasdaq firmly in the green to cap a strong start to the year.
Market Overview
The S&P 500 finished the session at 5,390, up 0.8%. The Nasdaq Composite outperformed, climbing 1.2% to close at 18,145, while the Dow Jones Industrial Average lagged but still managed a 0.3% gain, ending at 39,080. The rally was broad-based but led by heavyweight tech names, reflecting renewed optimism for the sector after a volatile March.
In the bond market, the yield on the 10-year Treasury slipped 4 basis points to 4.10%. Investors interpreted recent comments from Federal Reserve officials as a sign that rate cuts remain on the table, despite persistent inflationary pressures. The US Dollar Index (DXY) eased to 104.5, reflecting a modest risk-on mood and some profit-taking after a strong quarter for the greenback. On the commodity front, WTI crude oil settled at $82.70 per barrel, up 1.1%, as supply concerns resurfaced. Gold held steady at $2,220 an ounce, little changed as safe-haven demand softened.
Key Movers
Tech stocks stole the show on the last day of the quarter. Nvidia (NVDA) surged 4.5% to a record close, as analysts raised price targets following robust AI chip demand. Apple (AAPL) advanced 2.2% after unveiling new details about its upcoming product roadmap, while Microsoft (MSFT) added 1.7% on continued strength in cloud and AI segments. The Philadelphia Semiconductor Index jumped 3%, underscoring the sector’s momentum.
Financials saw mixed performance. JPMorgan Chase (JPM) slipped 0.8% after warning of slower loan growth in its quarterly update, contrasting with a 1.4% gain for Goldman Sachs (GS), which benefited from strong investment banking revenues. In consumer stocks, Nike (NKE) rebounded 2.5% after reassuring investors about global demand trends.
European equities also ended Q1 on a positive note, with the Stoxx 600 up 0.6%. For investors exploring low-cost access to ETFs and global stocks, our 2026 guide to the best low-cost brokers in Europe provides a comprehensive overview of platforms and features. For those weighing app-based investing, a recent comparison of Trade Republic and Scalable Capital for European stock investors highlights the latest trends in digital brokerage.
What to Watch
Looking ahead, the market’s focus shifts to Friday’s US jobs report, which will offer fresh clues on the labor market’s resilience and the Fed’s path forward. Investors will also be monitoring a wave of first-quarter earnings pre-announcements, particularly from tech and consumer giants, for signals on corporate health.
On the policy front, several Fed officials are scheduled to speak later this week, with markets eager for any hints about the timing and scale of potential rate cuts. In Europe, inflation data and central bank commentary will be closely watched as the ECB weighs its next move.
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As we move into the second quarter, investors remain alert to a delicate balance of growth optimism, central bank policy shifts, and geopolitical risks. Stay tuned for more daily market recaps and actionable insights.