Market Recap – March 29th
The markets had an exceptional day as the end of the first quarter nears for the US business year. Economic data has stayed solid with the home sales from the NAR, and corporate earnings played a major role in yesterday’s rally. The indices performed extremely well with the S&P 500 up 1.42%, the Dow Jones up 1.00%, and the NASDAQ up 1.79%.
One of the better earnings stories was Lululemon, up 12.72% to $361.04 after beating top and bottom-line expectations. The highlight was revenue rising by 30 percent year over year, which was fueled by a strong holiday season for the business. Intel also had a great day, up 7.61% to $31.52 following an announcement that new products were being introduced that will move the chip industry forward. Semiconductor stocks did well as a whole on Wednesday with Intel leading the charge.
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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.