S&P 500 Index - Daily Chart - Mar 1 - 28, 2024 (Source: Tradingview)

March 1

The markets began March with widespread gains, marking the end of the week and the start of a new month. The Dow gained 91 points, the S&P increased by 0.80%, and the Nasdaq surged by 1.44%, extending their winning streak to four consecutive months. Despite the ISM manufacturing report for February coming in below expectations, indicating a potential economic slowdown, consumer confidence was buoyed by the prospect of lower interest rates.

March 4

The stock market experienced a mixed performance during the week, with major indices eventually closing in the red despite posting gains throughout the day. The Dow Jones Industrial Average balanced the previous day's gains by shedding 97 points, the Nasdaq Composite Index declined by 0.42%, and the S&P 500 Index dipped by a slight 0.12%. Wall Street was dragged down by notable declines in large-cap technology stocks, including Apple, Alphabet, and Tesla, which lost 2.5%, 2.8%, and 7%, respectively.

March 5

The major indexes endured a treacherous trading day with the Dow tumbling down by a 404-point margin, the S&P declining by 1.02%, and the Nasdaq sinking 1.80% in the red. Apple fell once again by 3% after a report depicted that iPhone sales were plunging in China. Many other big-cap names fell such as Tesla which fell by 4% due to sales and China and a suspected arson attack in Berlin which halted production.

March 6

After back-to-back losses on Wall Street, the major averages were able to get a foothold and bounce back up. The Dow went up 20 points for the day, the S&P rose by 0.51%, and the Nasdaq ended the day 0.67% higher. Major tech stocks were generally lower for the day while New York Community Bancorp took a 40% nosedive.

March 7

The stocks continued to ride gains and staged a rally with the S&P again exceeding record highs. Dow stocks rose another modest 130 points and the S&P hopped up 1.03% while the tech-heavy Nasdaq climbed 1.56%. All big-cap tech stocks rose for the day except for Apple; futures rose before the opening after the European Central Bank lowered forecasts for annual inflation and growth.

March 8

On Friday, after a week of steady increases, the market took a break to consolidate its gains. The Dow Jones Industrial Average declined slightly, losing 47 points, while the S&P 500 index slid by 0.65%. The Nasdaq Composite index experienced a steeper drop of 1.53%. Nvidia, which began the day strong, experienced a sharp decline and ended 5% lower. In contrast, Apple managed to break a seven-day losing streak by gaining 1%.

March 11

The market moved mostly downwards with the major averages struggling to stay ahead of red territory. The Nasdaq dropped by a 0.37% margin and the S&P drifted 0.11% lower while the Dow managed to eke out a 47-point gain. The Dow was held back by Boeing which fell 3%, Amazon which dropped 2%, and American Express which fell 1.5%.

March 12

On Tuesday, the stock market saw a turnaround with a rally, reversing the previous trend. The Dow jumped 235 points, while the S&P 500 rose 1.12%, and the Nasdaq gained 1.49%. The technology sector, in particular, rebounded from its recent weakness, shifting from a lagging sector to a leading one. In company news, 3M announced a new CEO, which sent its stock price up by nearly 5%. This gain represented a significant improvement from the company's poor performance since the beginning of the year.

March 13

There were tussles in Wall Street this trading session with stocks picking up after a lagging tech sector. Dow stocks eked out a 37-point gain while the S&P fell by 0.19% and the tech-heavy Nasdaq dropped down 0.83%. Nvidia and Meta slipped once again while consumer and energy shares made up the losses.

March 14

A disappointing inflation read coupled with rising bond yields suppressed stocks for the day. The Dow drifted down 137 points while both the S&P and Nasdaq moderately fell by 0.29% and 0.30% respectively. Despite there being an overall pullback in the market, Microsoft and Alphabet gains nearly muted the losses.

March 15

Amid lingering consumer concerns about inflation, the major stock market indices experienced further declines. Dow stocks went down another 190 points, the S&P fell by 0.65%, and the Nasdaq lost 1.15% for the day. The week ends with investors witnessing consumer and wholesale prices depicting still-high inflation.

March 18

Fueled by the potential of artificial intelligence (AI) from Google, the major stock indexes experienced a surge during the trading session. The Dow Jones Industrial Average rose by 75 points, the S&P 500 gained 0.66%, and the technology-focused Nasdaq closed the day with a remarkable 1% increase. A significant factor contributing to this market boost was a 5% jump in Alphabet shares, driven by reports that Google may consider licensing its AI platforms for iPhones.

March 19

Perseverance, grit, and sector rotation drove the broad market benchmark to a new record high. Dow stocks jumped 320 points and the S&P went up 0.56% while the Nasdaq had a modest 0.26% gain. Other sectors picked up for a lag in tech as Nvidia’s big AI showcase conference had little appeal to investors.

March 20

In light of a buoyant message from the Federal Reserve regarding inflation, the stock market soared to new all-time highs. Dow stocks surged by a 400-point margin, S&P stocks rose 0.89%, and the Nasdaq ended the trading session up 1.15%. The Federal Reserve left rates unchanged by still holding a bias towards easing rates by three quarter-percent increments in the coming months.

March 21

Though Apple suffered a sharp drop, the broad market rally was impervious to the big-cap deficit. Dow stocks continued to rise with a 269-point jump while both the S&P (+0.32%) and Nasdaq (+0.44%) rose moderately. The optimistic Federal Reserve conference instilled in consumers the belief that the market could achieve a smooth, gradual economic slowdown.

March 22

The day's trading session, which began at weekly highs, ended with mixed results for the major averages. The Dow Jones Industrial Average plunged 305 points, erasing its gains and closing in the red, while the S&P 500 Index dipped by 0.14%. However, the Nasdaq Composite managed to eke out a modest 0.10% gain. Among individual stocks, FedEx soared by more than 11% after surpassing its earning expectations. In contrast, Nike suffered a significant 7% drop, and Lululemon experienced a steeper decline of 15%.

March 25

The major averages traded in a range while ultimately dropping with the Dow falling by 162 points along with the S&P and Nasdaq falling 0.31% and 0.34% respectively. The majority of the decline in the market had come in the latter hours of the day with deficits in tech stocks. Intel was down 1.7% after the Financial Times reported that new China guidelines would block the company’s chips.

March 26

Markets continue a losing streak with the tech sector continuing to drag down the entirety of the market. The Dow fell a modest 30 points, the S&P went down 0.28%, and the Nasdaq ended the day 0.36% lower. Apple announced that its annual developer progress will take place on June 10, the stock falling fractionally for the day.

March 27

Markets snapped a 3-day losing streak with the Dow leaping up 477 points, the S&P rising 0.86% and the tech-heavy Nasdaq moderately increasing by 0.39%. The S&P has gained a total of 10% in the quarter and 25% in the previous 5 months which in context is a rare occurrence. Shares of Reddit, which had a great run after IPOing 5 days ago, are starting to run out of steam.

March 28

In the first quarter of 2024, the S&P 500 is poised to conclude with a 10% gain, marking its most impressive start since 2019, when it surged by 13.1%. Meanwhile, the Dow Jones Industrial Average has risen by 5.5%, aiming for its best first-quarter performance since 2021 with a 7.4% increase. The Nasdaq Composite is not far behind, up by 9.3%, driven largely by the continued enthusiasm for artificial intelligence, exemplified by Nvidia's stunning 83% quarterly jump. These gains underscore a period of significant growth for major U.S. stock benchmarks, with the S&P 500 even setting a new all-time high, highlighting a robust start to the year across the board.