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Wall Street extended gains for the third straight session and closed higher on Friday, the last trading day of the month and quarter. The Dow rose more than 400 points while the S&P 500 and Nasdaq added 1.4% and 1.7%, respectively. The Fed’s preferred inflation measure, the US core personal consumption expenditures price index, came below expectations at 4.6%, in the latest signal that inflation peaked while sparking speculation that the Fed’s rate-tightening cycle could end soon. Still, several Fed policymakers last week suggested more monetary tightening would be needed to tame inflation, even after the recent turmoil in the banking sector. For the first quarter, tech shares booked top gains as the Nasdaq jumped 17.5%, while the Dow and the S&P 500 rose 0.4% and 7.4%, respectively. In the Euro Area, markets also extended gains on Friday, with the Euro Stoxx 50 hitting a one-month high, and ending up 11.9% for the quarter.
Summary as at 03.04.2023
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