Market Recap – March 21st
The markets continued the rally, looking ahead at what might be the most important Federal Reserve rate decision in recent history. The Fed is in a sticky situation due to the possible implications of raising or not raising interest rates, and their thoughts will be displayed today as investors have seemed to price in a good result. The bell rang with the S&P 500 up 1.30%, the Dow Jones up 0.98%, and the NASDAQ up 1.58%.
One of the bank stocks that had a great day was First Republic Bank, rising by 29.47% to $15.77 along with the rest of the regional banks after comments from Secretary Janet Yellen and a buyout currently underway. Outside the banking sector, Canadian Solar rose by 15.03% to $41.25 after reporting extremely strong fourth quarter earnings that beat estimates due to their solar module shipments.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.