On Good Friday, a day of reflection and observance for many, investors are taking a well-deserved break as both the New York Stock Exchange and the Nasdaq Stock Market remain closed. Similarly, the bond market, which closed early on Thursday, will continue to be dormant on Friday. Over-the-counter markets will follow suit, with trading activity expected to resume on Monday. While Good Friday is not recognized as a federal holiday, the U.S. Postal Service and banks will maintain regular hours, ensuring essential services remain accessible to the public.
Internationally, several major stock exchanges will also be closed on Monday in observance of Easter, including the Toronto Stock Exchange, the Stock Exchange of Hong Kong, the London Stock Exchange, the Euronext Paris, the Frankfurt Stock Exchange, and the Singapore Stock Exchange. This collective pause in global trading reflects the significance of Easter as a time for rest, reflection, and renewal.
Reflecting on market performance thus far this year, the Dow Jones Industrial Average has seen a commendable 6% climb, indicating resilience and optimism among investors. Similarly, the S&P 500 has surged by 10%, while the Nasdaq Composite has posted a notable gain of 9.1%. These positive trends underscore the underlying strength of the economy and investor sentiment, despite ongoing uncertainties in the global landscape.
However, it’s essential to note that market dynamics are ever-evolving. In the previous year, the “Magnificent 7” stocks, including Alphabet, Amazon, Apple, Nvidia, Meta Platforms, Microsoft, and Tesla, experienced significant gains driven by investor excitement surrounding artificial intelligence initiatives. Nevertheless, in the current year, shares of Apple and Tesla have experienced declines, prompting investors to reassess their portfolios and seek opportunities in other sectors.
Looking ahead, investors should remain vigilant and keep an eye on upcoming economic indicators, particularly jobs data. The U.S. Bureau of Labor Statistics is scheduled to release the Job Openings and Labor Turnover Survey data for February on Tuesday, providing insights into the state of the labor market. Additionally, another reading on jobless claims is slated for Thursday, offering further clarity on employment trends. Finally, the eagerly awaited jobs report for March, expected on Friday, will provide valuable information on nonfarm job additions and the unemployment rate, offering valuable insights into the health of the economy.